Cullumber Company purchased equipment on account on September 3, 2019, at an invoice price of $182,000. On September 4, 2019, it paid $3,900 for delivery of the equipment. A one-year, $1,905 insurance policy on the equipment was purchased on September 6, 2019. On September 20, 2019, Cullumber paid $4,100 for the installation and testing of the equipment. The equipment was ready for use on October 1, 2019.

Cullumber estimates that the equipment's useful life will be four years, with a residual value of $7,000. It also estimates that, in terms of activity, the equipment's useful life will be 73,200 units. Cullumber has a September 30 fiscal year-end. Assume that actual usage is as follows:

# of Units		Year Ended September 30
15,420		2020
23,720		2021
20,020		2022
14,940		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

1. STRAIGHT-LINE DEPRECIATION

								End of Year
Year		Depreciable Amount	×	Depr. Rate		=	Depr. Expense	Accum. 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					%

3. UNITS-OF-PRODUCTION

								End of Year
Year		Units of Production	×	Depr. Amt/Unit	=	Depr. Expense		Accum. Depr.	Carrying Amount
2020				$		$		$	$
2021
2022
2023