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Question 19 Sheridan Company purchased equipment on account on September 3, 2010, at an invoice price of $186,000. On September 4, 2019, it paid $4,300 for delivery of the equipment. Acne year, 51,925 insurance policy on the equipment was purchased on September 6, 2019. On September 20, 2019, Sheridan paid $3.700 for wtallation and testing of the equipment. The equipment was ready for use on October 1, 2019 Sheridan estimates that the equipment's useful life will be four years, with a residual value of $9,000. It also estimates that, in terms of activity, the equament's useful We will be 74,000 units, Shenden has September 30 fiscal year end. Assume that actual usage is as follows: of Units Year Ended September 30 15,460 2020 23,760 2021 20,060 2022 15,620 2023 Determine the cost of the equipment Cost of equipment Prepare depreciation schedules for the life of the asset under the following depreciation methods 1. straight-line 2. double diminishing balance 3. units-of-production (Hound depreciable amount per unit to decimal places, eg, 5.27 and the final answers to decimal places, 5.276.) 1. STRAIGHT-LINE DEPRECIATION dy End of Year Depreciable Amount Depr. Expense Depr. Rate Accum. Depr. Year Carrying Amount 2020 2021 2022 ENG IN 1004 AM 2000 ere to search O RI 111LLLL Ldilauan Edition, Volume 1 PRINCIPLES OF TIHER STANDARD VIEW URCES PRINTER (Round depreciable amount per unit to 2 decimal places, e.g. 5.27 and the final answers to o decimal places, s. 5,276.) 1. STRAIGHT-LINE DEPRECIATION End of Year Year Depreciable Amount Depr. Rate Depr. Expense Accum. X Depr. Carrying Amount 2020 2021 2022 2023 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION End of Year Year Carrying Amount Beginning of Year Depr. Rate Depr. Expense Accum. Depr. Carrying Amount 2020 2021 2022 2023 wy Study 3. UNITS-OF-PRODUCTION End of Year Units of Production Depr. Anit/Unit Depr. Expense Accum. Depr. Carrying Amount Year 2020 2021 2022 O G TI be here to search D LILLISUL ACCOUNTING I (ACET 1110) 2. DOUBLE DIMINISHING BALANCE DEPRECIATION STANDARD VIEW PRINTERVISION EBAN Year Carrying Amount Beginning of Year End of Year Depr. Hate 2020 Depr. Expense Accu. Depr. Carrying Amount 2021 2022 2023 3. UNITS OF PRODUCTION Year Units of Production End Year Depr. Amt/Unit Depr. Expense ACE De 2020 Carrying Amount 2021 2022 2023 dy Which method would result in the highest profit for the year ended September 30, 2017 Over thee of the asset? method would result in the highest profit for the year anded September 30, 2021. Over the finesset, expense. result in the came total depresion Question Attempts of I used