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On April 22, 2020, Sunland Enterprises purchased equipment for $137.200. The company expects to use the equipment for 11.500 working hours during its 4-year life
On April 22, 2020, Sunland Enterprises purchased equipment for $137.200. 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. Sunland has a December 31 year end and pro rates depreciation to the nearest month. The actual machine usage was: 1,600 hours in 2020; 2.700 hours in 2021:3,600 hours in 2022; 2,500 hours in 2023: and 1,300 hours in 2024 Calculate depreciation expense for the life of the asset under straight-line method. (Round answers to decimal places. e. 5.276) Depreciation Expense 2020 S 20700 2021 $ 31050 31050 2022 31050 s 2023 10350 A 2024 Calculate depreciation expense for the life of the asset under double diminishing-balance method (Round answers to decid places, eg. 5.276) Depreciation Expense 2020 O S 2021 2022 A 2023
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