DEPRECIATION SCHEDULES
Dunn Corporation acquired a new depreciable asset for $150,000. The asset has a five- year expected life and a residual value of zero.
Required:
1. Prepare a depreciation schedule for all five years of the asset's expected life using the straight-line depreciation method.
2. Prepare a depreciation schedule for all five years of the asset's expected life using the double-declining-balance depreciation method.
3. What questions should be asked about this asset to decide which depreciation method to use?