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Mammoth company purchased packaging equipment on January 3, 2008 for $67,500. The equipment was expected to have a useful life of three years, or 25,000
Mammoth company purchased packaging equipment on January 3, 2008 for $67,500. The equipment was expected to have a useful life of three years, or 25,000 operating hours, and a residual value of $4,500. The equipment was used for 12,000 hours during 2008, 9000 hours during 2009 and 4000 in 2010. 1) Determine the amount of depreciation for the years ending December 31, 2008, 2009, and 2010 by a) straight line method b) units-of-production method c) double declining balance method. 2) Also determine the total deprecation expense for the three years by a) straight line method b) units-of-production method c) double declining balance method
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