Depreciation by Three Methods; Partial Years

Perdue Company purchased equipment on April 1 for $62,370. The equipment was expected to have a useful life of three years, or 4,320 operating hours, and a residual value of $1,890. The equipment was used for 800 hours during Year 1, 1,500 hours in Year 2, 1,300 hours in Year 3, and 720 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) units-of-output 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 Year 1 Year 2 Year 3 Year 4 Amount 15,120 20,160 V 20,160 5,040 b. Units-of-output method Year Year 1 Year 2 Year 3 Year 4 Amount 11,200 V 21,000 18,200 V 10,080 V c. Double-declining-balance method Year Year 1 Year 2 Year 3 Year 4 Amount 31,285X 20,790 V 6,930 X 578 X