Andrew was not familiar with the concept of depreciation, but after lengthy disc

Question

Andrew was not familiar with the concept of depreciation, but after lengthy discussion, you agreed that certain estimated useful lives and depreciation methods would be appropriate. The Capital Acquisitions schedule reflects your decisions

How to do General legder to this depreciation (espically for double declining balance)

Please, put the answer as general legder and then journal enteries. Thanks

GR Computers, Inc. Schedule of Capital Acquisitions For the quarter ended December 31, 2014 Salvage Date Description Cost Years Value Method 9/1/2014 Land $150,000 9/1/2014 Building 320,000 20 $0 Straight-Line 9/15/2014 Equipment 18,500 5 1,000 Double Declining Balance 9/20/2014 Furniture and Fixtures 7,500 7 300 Straight-Line

Explanation / Answer

Calculation of depreciation Qtr 4 Cost Years Value Depreciation 09-01-2014 Land No depreciation is charged on Land 09-01-2014 Building 320000 20 0 320000/20 16000 Per Year for 20 Years 4000 15-09-2014 18500 7 1000 2467 20-09-2014 Furnitures & Fixtures 7500 7 300 7500-300/7 7457.143 Per Year 1864.5 Per Quarter Depreciation Schedule of Equipment Year Book Value Depreciation Depreciation Accumulated Book Value Year Start Percent Expense Depreciation Year End 2014 $18,500 13.33% $2,467 $2,467 $16,033 2015 $16,033 40.00% $6,413 $8,880 $9,620 2016 $9,620 40.00% $3,848 $12,728 $5,772 2017 $5,772 40.00% $2,309 $15,037 $3,463 2018 $3,463 40.00% $1,385 $16,422 $2,078 2019 $2,078 26.67% $554 $16,976 $1,524

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