On April 22, 2020, Sheridan Enterprises purchased equipment for $136,200. The company expects to use the equipment for 12,000 working hours during its 4-year life and that it will have a residual value of $15,000. Sheridan has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,700 hours in 2020; 2,500 hours in 2021; 3,900 hours in 2022; 2,800 hours in 2023; and 1,300 hours in 2024.

Calculate depreciation expense for the life of the asset under straight-line method.

On April 22, 2020, Sheridan Enterprises purchased equipment for $136,200. The company expects to use the equipment for 12,000 working hours during its 4-year life and that it will have a residual value of $15,000. Sheridan has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,700 hours in 2020; 2,500 hours in 2021; 3,900 hours in 2022; 2,800 hours in 2023; and 1,300 hours in 2024. (ai) x Your answer is incorrect. Try again. Calculate depreciation expense for the life of the asset under straight-line method. (Round answers to decimal places, e.g. 5,276.) Depreciation Expense 2020 7575 2021 45400 2022 22700 2023 7700 2024 0