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declining balance method amortization
cost of rental equipment is $486,902, accum. Amortization is $418,713, net book value for 2006 is $68,169 and 2005 is $74,018. Amortization of rental equipment for the year amounted to $22,205 (2005 - $14,379). I need to calculate the cost for year 2007, the accum. Amort. For 2007 and net book value for 2007.
YEAR 2006 : NET BOOK VALUE RENTAL EQUIPMENT COST ACCUM. AMORTIZATION 2006 2005 486,902 $418,713 $68,169 $74,018 Amortization of rental equipment for the year amounted to $22,205 (2005 - $14,379). YEAR 2005 : NET BOOK VALUE RENTAL EQUIPMENT COST ACCUM. AMORTIZATION 2005 2004 470,526 $396,508 $74,01 $55,397 Amortization of rental equipment for the year amounted to $14,379 (2004 - $17,398). |
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