Depreciation by Three Methods Partial Years Layton Company purchased tool sharpening equipment on October 1 for $70,200 The equipment was expected to have a useful life of three years or 6,480 operating hours, and a residual value of $2,160 The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 hours in Year 4 Required Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight line method, (b) the units of activity method, and (c) the double declining balance method Note FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places Then round the answer for each year to the nearest whole dollar a Straight line method Year Amount Year 1 $fill in the blank 1 Year 2 $fill in the blank 2 Year 3 $fill in the blank 3 Year 4 $fill in the blank 4 b Units of activity method Year Amount Year 1 $fill in the blank 5 Year 2 $fill in the blank 6 Year 3 $fill in the blank 7 Year 4 $fill in the blank 8 c Double declining balance method Year Amount Year 1 $fill in the blank 9 Year 2 $fill in the blank 10 Year 3 $fill in the blank 11 Year 4 $fill in the blank 12 Depreciation by Three Methods Partial Years Layton Company purchased tool sharpening equipment on October 1 for $70,200 The equipment was expected to have a useful life of three years or 6,480 operating hours, and a residual value of $2,160 The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 hours in Year 4 Required Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight line method, (b) the units of activity method, and (c) the double declining balance method Note FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places Then round the answer for each year to the nearest whole dollar a Straight line method Year Amount Year 1 $ Year 2 $ Year 3 $ Year 4 b Units of activity method Year Amount Year 1 Year 2 Year 3 Year 4 c Double declining balance method Year Amount Year 1 Year 2 Year 3 $ Year 4 $

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Depreciation by Three Methods; Partial Years Layton Company purchased tool sharpening equipment on October 1 for $70,200. The equipment was expected to have a useful

Depreciation by Three Methods; Partial Years

Layton Company purchased tool sharpening equipment on October 1 for $70,200. The equipment was expected to have a useful life of three years or 6,480 operating hours, and a residual value of $2,160. The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 hours in Year 4.

Required:

Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method.

Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar.

a. Straight-line method

Year	Amount
Year 1	$fill in the blank 1
Year 2	$fill in the blank 2
Year 3	$fill in the blank 3
Year 4	$fill in the blank 4

b. Units-of-activity method

Year	Amount
Year 1	$fill in the blank 5
Year 2	$fill in the blank 6
Year 3	$fill in the blank 7
Year 4	$fill in the blank 8

c. Double-declining-balance method

Year	Amount
Year 1	$fill in the blank 9
Year 2	$fill in the blank 10
Year 3	$fill in the blank 11
Year 4	$fill in the blank 12

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Depreciation by Three Methods; Partial Years Layton Company purchased tool sharpening equipment on October 1 for $70,200. The equipment was expected to have a useful life of three years or 6,480 operating hours, and a residual value of $2,160. The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method Year Amount Year 1 $ Year 2 $ Year 3 $ Year 4 b. Units-of-activity method Year Amount Year 1 Year 2 Year 3 Year 4 c. Double-declining-balance method Year Amount Year 1 Year 2 Year 3 $ Year 4 $