1) Dandy Inc. has straight-line annual depreciation expense of $700 for equipment that cost $16,000 and has a $2,000 residual value. What is the useful life of the equipment?

2) Garner Company has depreciation expense of $400 for the year. The depreciation relates to a delivery scooter with a residual value of $2,000 and a useful life of 30,000 miles. The scooter was driven for 1,000 miles this year. What is the original cost of the scooter?

3) Harper Corp. purchased computers for $30,000 on January 1, 2016. The computers have a residual value of $2,000 and a life of 8 years or 80,000 files processed.

a. Calculate Harpers accumulated depreciation at December 31, 2017, under the straight-line, unit, and double declining balance methods, assuming the computers processed 6,000 files in 2016 and 12,000 files in 2017.

b. On January 1, 2018, the computers were sold for $20,000 cash. Give the journal entry to record this sale. Do this for all three depreciation methods.