Computing Depreciation Using Various Depreciation Methods

To demonstrate the computations involved in several methods of depreciating a fixed asset, the following data are used for equipment purchased on January $1$ of the current year.

Required

Compute annual depreciation using each of the following methods.

a$.$ Straight$-$line depreciation: Compute the depreciation rate and amount for each year.

Note: Enter the rate in decimal form $($such as $0\mathrm{.}10)$ and not as a percentage.

Depreciation Rate

Depreciation rate per service hour $

Year $1$

Depreciation Expense

Depreciation rate per unit $$,0$

Year $1$

Depreciation Expense

d$.$ Sum$-$of$-$the$-$years'$-$digits method: Compute the depreciation amount for each year.

e$.$ Double$-$declining$-$balance method: Compute the depreciation amount for each year.