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Estimating depreciation Expense and Book Value Equipment costing $35,000, with a scrap value of $10,000 was purchased on January 1, by Global Communications, Inc. The
Estimating depreciation Expense and Book Value Equipment costing $35,000, with a scrap value of $10,000 was purchased on January 1, by Global Communications, Inc. The estimated useful life of the equipment was 4 years and it was expected to generate 85,000 finished units of production.
Units actually produced were 19,000 in Year 1 and 25,000 in Year 2.
Required
Complete the following table.
| Depreciation Expense | Net Book Value | ||||
|---|---|---|---|---|---|
| Depreciation Method | Year 1 | Year 2 | Year 1 year-end | Year 2 year-end | |
| Straight-line | |||||
| Double-declining-balance | |||||
| Units-of-production | |||||
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