On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of
Question:
On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of an estimated four-year service life is expected to be $2,000. The company expects the equipment to operate for 10,000 hours. Calculate depreciation expense for 2021 and 2022 using each of the following depreciation methods:
1. Straight line,
2. Double-declining balance,
3. Units-of-production using hours operated. The equipment operated for 2,200 and 3,000 hours in 2021 and 2022, respectively.
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1 Straightline 30000 2000 7000 per year 4 years 2 Doubledeclining balance Straightline r...View the full answer
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ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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