Hi.Kindly,find the file attached and get back to me in case you need any changes.Thank you.1Principles of AccountingStudent NameUniversity AffiliationDate of Submission2Question 1Four depreciation methods exist for a firm to depreciate its plan assets, namelystraight line, production units, sum of the year’s digits, and declining balances(“Depreciation Methods – 4 Types of Depreciation You Must Know!”, 2020).Straight-line depreciation method determines the estimated scrap of an asset at the endof its life. It then subtracts this value from the original cost to get the lost value(depreciation) over time due to wear and tear due to its use. Declining BalanceDepreciation method is utilized in writing off depreciation costs to minimize taxexposure. With this method, the management expenses depreciate faster rather t…
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