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II On April 22, 2023, Ivanhoe Enterprises purchased equipment for $133,500. The company expects to use the equipment for 12,000 working hours during its
II On April 22, 2023, Ivanhoe Enterprises purchased equipment for $133,500. The company expects to use the equipment for 12,000 working hours during its four-year life and that it will have a residual value of $13,500. Ivanhoe has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,900 hours in 2023; 2,500 hours in 2024; 3,800 hours in 2025; 2,800 hours in 2026; and 1,200 hours in 2027. (a1) Prepare a depreciation schedule for the life of the asset under the straight-line method. (Round partial-period depreciation rate to 4 decimal palces, e.g. 15.2563% and other answers to O decimal places, e.g. 5,276.) Year Depreciable Amount Depr. Rate 2023 $ 2024 2025 2026 % do % % % 20 2027 % = Depr. Expense SA $ SA $ End of Year Carrying Accum. Depr. Amount $
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