Alton Corp _Computations of Depreciation

Question # 00003947 Posted By: ACCOUNTS_GURU Updated on: 11/23/2013 08:13 AM Due on: 12/31/2013
Subject Accounting Topic Accounting Tutorials:
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On May 1, 2012 Alton Corp purchased mining equipment by issuing an 8 year note with 8% interest and annual payments of $4,600. The first of the 8 pmts was made up front. The mining equipment will be worth $4,200 at the end of the 8 years and sold for that amount. Please calculate depreciation for 2012 and 2013 using straight-line, double-declining balance and sum of the years' digits methods.

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