An asset with an original cost of $3,000 is depreciated yearly over three years beginning January 1, 2006. The salvage value is $500.
The initial depreciation sheet shows the following:
Period | Current Period Depreciation | Net Book Value | Cumulative Depreciation |
|---|---|---|---|
12/31/2006 | 0 | 3000 | 0 |
12/31/2007 | 0 | 3000 | 0 |
12/31/2008 | 0 | 3000 | 0 |
Net book value and cumulative depreciation are calculated, read-only fields.
Enter the depreciation amounts for each period. The net book value and cumulative deprecation are calculated as follows:
Period | Current Period Depreciation | Net Book Value | Cumulative Depreciation |
|---|---|---|---|
12/31/2006 | 500 | 2500 | 500 |
12/31/2007 | 1000 | 1500 | 1500 |
12/31/2008 | 1000 | 500 | 2500 |