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On January 1, 2018, Canseco Plumbing Fixtures purchased equipment for $54,000. Residual value at the end of an estimated four-year service life is expected
On January 1, 2018, Canseco Plumbing Fixtures purchased equipment for $54,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. The company expects the machine to operate for 20,000 hours. The machine operated for 3,400 and 4,200 hours in 2018 and 2019, respectively. a. Calculate depreciation expense for 2018 and 2019 using straight line method. b. Calculate depreciation expense for 2018 and 2019 using sum-of-the-years'-digits method. c. Calculate depreciation expense for 2018 and 2019 using double-declining balance method. d. Calculate depreciation expense for 2018 and 2019 using units-of-production method (using machine hours). Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Calculate depreciation expense for 2018 and 2019 using straight line method. Straight-Line Depreciation Choose Numerator: I Choose Denominator: Annual Depreciation Expense Cost minus Salvage Estimated Useful Life (years) Depreciation Expense 0 Depreciation Expense 2018 2019 < Required A Required B >
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