Equipment with a cost of $400,000 has an estimated residual value of $50,000 and an estimated life o 20 years or 38,000 hours. It is to be depreciated by the straight-line method. What is the amountof depreciation for the first full year, during which the equipment was used 8,100 hours? of 5 years or 48,000 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method? Equipment with a cost of $250,000, an estimated residual value of $30,000, and an estimated life of 20 years was depreciated by the straight-line method for 5 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 4 years and the residual value changed to $7,000. The depreciation expense for the current and future years is has decided to discard one of its batting cages. The equipment had Depreciation has been On December 31, Strike Company an initial cost of $310,000 and has accumulated depreciation of $260,000. recorded up to the end of the year. Journalize the transaction