1) Layton company purchased tool sharpening equipment on October 1 for $108,000 the equipment was expected to have a useful life of three years or 12,000 operating hours, and a residual value of $7200. The equipment was used for 1,350 hours during year one, 4200 hours in year two, 3650 hours in year three, and 2800 hours in year four

Required:

Determine the amount of depreciation expense for the years ended: December 31, year one, year two, your three, and year four, by (a) The straight-line method, (b) units of output method, and (c) The double declining balance method

1. PR.09-03B Depreciation by Three Methods; Partial Years Layton Company purchased tool sharpening equipment on October 1 for $108,000. The equipment was expected to have a useful life of three years, or 12,000 operating hours, and a residual value of $7,200. The equipment was used for 1,350 hours during Year 1, 4,200 hours in Year 2, 3,650 hours in Year 3, and 2,800 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units of-output method, and (c) the double-declining- balance method. Note: FOR DECLINING BALANCE ONLY, round the answer for each year to the nearest whole dollar. a. Straight-line method Year Amount Year 1 $. Year 2 $ Year 3 $ Year 4 $. b. Units-of-output method Year Amount Year 1 $ Year 2 $ Year 3 $ Year 4 $..... c. Double-declining-balance method Year Amount Year 1 $ Year 2 $. . Year 3 $ Year 4 $