Question
BlossomCompany purchased equipment for $303,200on October 1, 2020. It is estimated that the equipment will have a useful life of8years and a salvage value of
BlossomCompany purchased equipment for $303,200on October 1, 2020. It is estimated that the equipment will have a useful life of8years and a salvage value of $15,200. Estimated production is45,000units and estimated working hours are20,000. During 2020,Blossomuses the equipment for530hours and the equipment produces1,000units.
Compute depreciation expense under each of the following methods.Blossomis on a calendar-year basis ending December 31.(Round rate per hour and rate per unit to 2 decimal places, e.g. 5.35 and final answers to 0 decimal places, e.g. 45,892.)
(a)Straight-line method for 2020 $
(b)Activity method (units of output) for 2020 $
(c)Activity method (working hours) for 2020$
enter a dollar amount
(d)Sum-of-the-years'-digits method for 2022 $
(e)Double-declining-balance method for 2021 $
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