Refer to the data given for Surkis Company in BE9-5. Assume the equipment was purchased on April 6, 2014, and that the company has a policy of recording a half year's depreciation in the year of acquisition and a half year's depreciation in the year of disposal. Using the double diminishing-balance method, calculate the depreciation expense
In BE9-5
Surkis Company acquires equipment at a cost of $42,000 on January 3, 2014. Management estimates the equipment will have a residual value of $6,000 at the end of its four-year useful life. Assume the company uses the straight-line method of depreciation. Calculate the depreciation expense
(a) For each year of the equipment's life,
(b) In total over the equipment's life.