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On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of an estimated four-year service life is expected
On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of an estimated four-year service life is expected to be $2,000. The company expects the equipment to operate for 10,000 hours." Required: a. Calculate depreciation expense for 2021 and 2022 using sum-of-the-years'-digits assuming the equipment was purchased on January 1, 2021. b. Calculate depreciation expense for 2021 and 2022 using sum-of-the-years'-digits assuming the equipment was purchased on March 31, 2021. Complete this question by entering your answers in the tabs below. Required A Required B Calculate depreciation expense for 2021 and 2022 using sum-of-the-years'-digits assuming the equipment was purchased on January 1, 2021. Sum-of-the-years' digits depreciation 2021 2022 Depreciable Base X Rate per Year x x " Depreciation Expense
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