Question

A fixed asset with a five-year estimated useful life and no residual value is sold at the end of the second year of its useful life. How would using the sum-of-the-years'-digits method of depreciation, instead of the double declining balance method of depreciation, affect a gain or loss on the sale of the fixed asset

Answer 1

Answer:

Gain: (Decrease)

Loss:

(Increase)

Step-by-step explanation: