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On April 22, 2020, Cullumber Enterprises purchased equipment for $130,300. The company expects to use the equipment for 11,500 working hours during its 4-year life
On April 22, 2020, Cullumber Enterprises purchased equipment for $130,300. The company expects to use the equipment for 11,500 working hours during its 4-year life and that it will have a residual value of $13,000. Cullumber has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,500 hours in 2020; 2,500 hours in 2021; 4,000 hours in 2022; 2,600 hours in 2023; and 1,100 hours in 2024. Calculate depreciation expense for the life of the asset under straight-line method. (Round answers to O decimal places, e.g. 5,276.) Depreciation Expense 2020 $ 19,550 2021 $ 29,325 2022 $ 29,325 2023 $ 29,325 2024 $ 9,775 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 $ eTextbook and Media Calculate a depreciation expense for the life of the asset under units-of-production method. (Round unit rate to 2 decimal places, eg. 2.25 and final answers to decimal places, e.3.5,276.) Depreciation Expense 2020 $ $ 2021 2022 $ 2023 $ 2024 $
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