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On April 22, 2020, Carla Vista Enterprises purchased equipment for $137,720. The company expects to use the equipment for 11,800 working hours during its 4-year
On April 22, 2020, Carla Vista Enterprises purchased equipment for $137,720. The company expects to use the equipment for 11,800 working hours during its 4-year life and that it will have a residual value of $15,000. Carla Vista has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was. 1,900 hours in 2020;2,900 hours in 2021; 3,500 hours in 2022; 2,700 hours in 2023, and 1,000 hours in 2024. Calculate depreciation expense for the life of the asset under straight-line method. (Round answers to 0 decimal places, eg. 5,276.) Depreciation Expense 2020 $ 2021 $ 2022 $ 2023 $ 2024 $ Calculate depreciation expense for the life of the asset under double diminishing-balance method. (Round answers to decimal places, eg. 5,276.) Depreciation Expense 2020 $ 2021 $ 2022 $ 2023 $ Calculate a depreciation expense for the life of the asset under units-of-production method. (Round unit rate to 2 decimal places, eg. 225 and final answers to O decimal places, eg. 5,276.) Depreciation Expense 2020 $ 2021 $ 2022 $ 2023 $ 2024 $ Which method results in the lowest profit over the life of the asset? Double diminishing-balance method Which method results in the least cash used for depreciation over the life of the asset? Units-of-production method
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