Capital Assets - Amortiration QUESTION #4 2022 for cash Tulo Company purchased equipment in the amount of $400,000 on January 1, 2022 Estimated Salvage is $10,000 Estimated Useful Service) Life is 10 years. Estimated Units of Production over its Estimate Useful Life: 450,000 REQUIRED Calculate the Amortization Expense for the year 2024 using the Straight line Method Prepare the journal entry to record the amortization expense for 2024 Date Account PR Debit Credit How would the equipment be presented on the balance sheet at the end of 2024? Tulo Company purchased equipment in the amou ACC13 stimated Salvage Sed equipment in the amount of $460,000 on January 1"2022 for cash stimated Useful Service) Life is 10 years. Estimated Units of Producto s Estimate Useful Life: 450.000 Method Amortization Expense for the year 2022 using the Double Declining Balance Calculate the Amortization Expense for the year 2023 using the Double Declining Balance Method. Calculate the Amortization Expense for the year 2024 using the Double Declining Balance Method How would the equipment be presented on the balance sheet at the end of 2024 under double declining method? Tulo Company purchased equipment in the amount of $460,000 on January 14, 2022 for cash. Estimated Salvage is $10,000 Estimated Useful (Service) Life is 10 years. Estimated Units of Production over its Estimate Useful Life: 450,000 Calculate the Amortization Expense for the year 2025 using the Units of Production Method The equipment was used to produce 40,000 units during the year 2025