ACCT 308

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ACC 308 7-1 Final Project Submission: Notes to Financial Statements

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To calculate the depreciation of Peyton Approved’s equipment I utilized the straight-line method which is calculated by equally distributing the depreciation throughout the asset’s depreciable life. For 2017 Payton Approved’s baking equipment cost $12,000 with an accumulated depreciation equaling $406.44 a year totaling $2032.20 over a five-year period. As shown on the Pro Forma Income Statement and Pro Forma Balance Sheets, depreciation for the new location is estimated at $2,142.86....

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