Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for...

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Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $42,660. The equipment was expected to have a useful ife of 3 years or 4,860 operating hours, and a residual value of $1,150 The equipment was used for 900 hours during Year 1, 1,700 hours in Year 2, 1.500 hours in Year 3, and 760 hours in year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2 Year 3, and w declining-balance method. 4, by (a) the straight-line method, (b) the units of activity method, and (c) the double Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Amount 10,328 X 13,770 13,770 3,443 X Amount 7,650 Year Year 1 Year 2 14,450 Year 3 12,750 Year 4 6,460 c. Double-declining-balance method Year Amount Year 1 Year 2 Year 3 Year 4 7,110 23,700 7,900 2,600 X Check My Work 1 more Check My Work uses remaining Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $42,660. The equipment was expected to have a useful ife of 3 years or 4,860 operating hours, and a residual value of $1,150 The equipment was used for 900 hours during Year 1, 1,700 hours in Year 2, 1.500 hours in Year 3, and 760 hours in year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2 Year 3, and w declining-balance method. 4, by (a) the straight-line method, (b) the units of activity method, and (c) the double Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Amount 10,328 X 13,770 13,770 3,443 X Amount 7,650 Year Year 1 Year 2 14,450 Year 3 12,750 Year 4 6,460 c. Double-declining-balance method Year Amount Year 1 Year 2 Year 3 Year 4 7,110 23,700 7,900 2,600 X Check My Work 1 more Check My Work uses remaining