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Exact Photo Service purchased a new color printer at the beginning of 2018 for $42,800. The printer is expected to have a four-year useful life
Exact Photo Service purchased a new color printer at the beginning of 2018 for $42,800. The printer is expected to have a four-year useful life and a $1,712 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows:
2018 | 545,300 |
2019 | 479,400 |
2020 | 383,200 |
2021 | 385,600 |
Total | 1,793,500 |
The printer was sold at the end of 2021 for $2,112.
Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. (Amounts to be deducted should be indicated with minus sign.)
Depreciation Methods | Amount | Effect |
Double-Declining Balance | ||
Units-of-Production |
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