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On April 22, 2020, Sheridan Enterprises purchased equipment for $136,400. The company expects to use the equipment for 12,000 working hours during its 4-year life

On April 22, 2020, Sheridan Enterprises purchased equipment for $136,400. 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 $14,000. Sheridan has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,600 hours in 2020; 2,900 hours in 2021; 3,700 hours in 2022; 2,900 hours in 2023; and 1,100 hours in 2024.

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

Calculate depreciation expense for the life of the asset under double diminishing-balance method.

Calculate a depreciation expense for the life of the asset under units-of-production method.

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