On 1 January 2009, Mietal Resources Inc. purchased earth-moving equipment for $875 000. The equipment is rated
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On 1 January 2009, Mietal Resources Inc. purchased earth-moving equipment for $875 000. The equipment is rated for a total of 10 000 hours of operation. Actual hours of operation were 1850 in 2009, 2010 in 2010, 2200 in 2011 and 2100 in 2012. Transportation for the equipment cost $22 000. The equipment has an estimated useful life of four years with a $150 000 residual value. The company uses the straight-line method to allocate the asset’s cost to income. Based on this information, complete the following schedule.
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