On January 1, 2021, 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 equipment to operate for 20,000 hours. The equipment operated for 3,400 and 4,200 hours in 2021 and 2022, respectively. Required: a. Calculate depreciation expense for 2021 and 2022 using straight-line method. b. Calculate depreciation expense for 2021 and 2022 using double-declining-balance method. c. Calculate depreciation expense for 2021 and 2022 using units-of-production using hours operated. X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate depreciation expense for 2021 and 2022 using double-declining-balance method. Double-Declining-Balance Method Choose Numerator: x Choose Denominator: Depreciation Expense Depreciation Expense Formula x Ending Book Value X x Straight-line Rate = $ 54,000 x 50 % 11 A 27,000 Amount for 2021 Amount for 2022 $ 27,000 x 50 % $ 13,500 On January 1, 2021, 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 equipment to operate for 20,000 hours. The equipment operated for 3,400 and 4,200 hours in 2021 and 2022, respectively. Required: a. Calculate depreciation expense for 2021 and 2022 using straight-line method. b. Calculate depreciation expense for 2021 and 2022 using double-declining-balance method. c. Calculate depreciation expense for 2021 and 2022 using units-of-production using hours operated. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate depreciation expense for 2021 and 2022 using double-declining-balance method. Double-Declining-Balance Method Choose Numerator: * Choose Denominator: = Depreciation Expense = Depreciation Expense Formula Beginning Book Value * Double the Straight-line Rate Amount for 2021 50 % $ 27,000 13,500 Amount for 2022 50 % 11 = $ Beginning Book Value Cost Minus Residual K Required A > Required C Ending Book Value On January 1, 2021, 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 equipment to operate for 20,000 hours. The equipment operated for 3,400 and 4,200 hours in 2021 and 2022, respectively. Required: a. Calculate depreciation expense for 2021 and 2022 using straight-line method. b. Calculate depreciation expense for 2021 and 2022 using double-declining-balance method. c. Calculate depreciation expense for 2021 and 2022 using units-of-production using hours operated. Complete this question by entering your answers in the tabs below. Required A Required B Required C Calculate depreciation expense for 2021 and 2022 using double-declining-balance method. Choose Numerator: Double-Declining-Balance Method * Choose Denominator: Double the Straight-line Rate = Depreciation Expense Depreciation Expense Formula Beginning Book Value = Amount for 2021 $ 54,000 x = $ 27,000 Amount for 2022 $ 27,000 x $ 13,500 Double the Straight-line Rate C > Proportion of Units Produced Straight-line Rate
