Hasselback Company acquired a plant asset at the beginning of Year 1. The asset has an
estimated service life of 5 years. An employee has prepared depreciation schedules for this asset
using three different methods to compare the results of using one method with the results of
using other methods. You are to assume that the following schedules have been correctly
prepared for this asset using (1) the straight-line method, (2) the sum-of-the-years'-digits method,
and (3) the double-declining balance method.
Double Declining Balance
Answer the following questions.
What is the cost of the asset being depreciated?
What amount, if any, was used in the depreciation calculations for the salvage value for this