Accounting

Problem: Module 2 Textbook Problem 15 Learning Objectives: - 2-10 Calculate double-declining-balance depreciation and show how it affects financial statements - 2-11 Calculate units-of-production depreciation and show how it affects financial statements - 2-12 Show how gains and losses on disposals of long-term operational assets affect financial statements Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,500. The printer is expected to have a four-yea useful life and a $3,950 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for th four years was as follows: The printer was sold at the end of Year 4 for $4,350. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. c. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. Answer is not complete. Complete this question by entering your answers in the tabs below. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round your intermediate calculations. Round final answers to the nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Compute the depreciation expense for each of the four years, using units-of-production depreciation. (Round cost per unit to three decimal places. Round other intermediate calculations and your final answers to the nearest dollar.) Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. (Amounts to be deducted should be indicated with minus sign.)