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Directions: Calculate Depreciation Expense for each of 3 years using 3 different methods using the following information. Report your final answers, use formulas and/or show
Directions: Calculate Depreciation Expense for each of 3 years using 3 different methods using the following information. Report your final answers, use formulas and/or show all work for each calculation. Round to the whole number. | ||||||||||
Multi-use printer acquired on the first day of the Year One for $10,000 | ||||||||||
The estimated useful life is 3 years or 10,000 hours | ||||||||||
The residual salvage value is estimated at $1500 | ||||||||||
During Year One, the copy machine was used for 3300 hours | ||||||||||
During Year Two, the copy machine was used for 2800 hours | ||||||||||
During Year Three, the copy machine was used for 3900 hours | ||||||||||
Year 1 | Year 2 | Year 3 | Total | |||||||
Straight Line Depreciation Method | ||||||||||
Units of Production Depreciation Method | ||||||||||
Double Declining Balance Depreciation Method |
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Straight Line Calculations:
Units of Production Calculations:
Double Decline Balance Calculations:
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