Question
Case E. Matson Company purchased the following on January 1, 2016: Office equipment at a cost of $42,000 with an estimated useful life to the
Case E. Matson Company purchased the following on January 1, 2016:
Office equipment at a cost of $42,000 with an estimated useful life to the company of three years and a residual value of $12,600. The company uses the double-declining-balance method of depreciation for the equipment.
Factory equipment at an invoice price of $806,800 plus shipping costs of $22,000. The equipment has an estimated useful life of 112,000 hours and no residual value. The company uses the units-of-production method of depreciation for the equipment.
A patent at a cost of $360,000 with an estimated useful life of 10 years. The company uses the straight-line method of amortization for intangible assets with no residual value.
The company's year ends on December 31.
1-a. Prepare a partial depreciation schedule of office equipment for 2016, 2017, and 2018. (Do not round intermediate calculations.)
(I just need the 2016,2017 and 2018 depreciation expense, accumulated depreciation, and netbook value)
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