Glans Company purchased equipment on account on April 6, 2019, at an invoice price of $442,000.

On April 7, 2019, it paid $4,000 for delivery of the equipment.

A one-year, $3,000 insurance policy on the equipment was purchased on April 9, 2019.

On April 22, 2019, Glans paid $6,000 for installation and testing of the equipment.

The equipment was ready for use on May 1, 2019.

The equipment's useful life will be 4 years, with a residual value of $20,000.

It also estimates that, in terms of activity, the equipment's useful life will be 150,000 units.

Glans has an April 30 fiscal year end.

Assume that actual usage is as

units year ended april 30

22,600 2020

45,600 2021

49,700 2022

32,200 2023

a.Determine the cost of the equipment

b.Prepare depreciation schedules for the life of the asset under the following depreciation methods:

straight-line

double diminishing-balance

units-of-production