Question
hello! I have an excel assignmeng for this question can someone PLEASE help? Perdue Company purchased equipment on April 1 for $270,000. The equipment was
hello! I have an excel assignmeng for this question can someone PLEASE help?
Perdue Company purchased equipment on April 1 for $270,000. The equipment was expected to have a useful life of three years or 18,000 operating hours, and a residual value of $9,000. The equipment was used for 7,500 hours during Year 1, 5,500 hours in Year 2, 4,000 hours in Year 3, and 1,000 hours in Year 4.
Instructions
Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (A) the straight-line method, (B) the units-of-activity method, and (C) the double-declining-balance method.
Excel:
Depreciation Expense A. Straight- Line Units-of Activit Double-Declining- Balance Year 4 Totals Calculations Straight-line method For full year: Cost -Residual Value) I Years - Yearly Depreciation $270,000 $9,000 S87,000 For part years Year 1 Depreciation x Portion of Year Depreciation $87,000 Year 4 Depreciation x Portion of Year Depreciation $87,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started