On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $52,000. Residual value at the end of an estimated four-year service life is expected to be $4,000. The company expects the equipment to operate for 12,000 hours. The equipment operated for 3,300 and 4,100 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.

• Required A
• Required B
• Required C

Calculate depreciation expense for 2021 and 2022 using straight line method.

Straight-Line Depreciation
	Choose Numerator:	/	Choose Denominator:	=	Annual Depreciation Expense
	Cost minus Salvage	/	Estimated Useful Life (years)	=	Depreciation Expense
		/	4	=
	Depreciation Expense
2021
2022

Calculate depreciation expense for 2021 and 2022 using double-declining balance method.

	Depreciation for the Period				End of Period
Annual Period	Beginning of Period Book Value	Depreciation Rate (%)		Depreciation Expense	Accumulated Depreciation	Book Value
2021			%		$0	$0
2022			%		$0	$0

Calculate depreciation expense for 2021 and 2022 using units-of-production using hours operated. (Round "Depreciation per machine hour" answers to 2 decimal places.)

Select formula for Units of Production Depreciation:
Calculate 2021 depreciation expense:
Depreciation per machine hour
Machine hours in 2021
Depreciation in 2021
Calculate 2022 depreciation expense:
Depreciation per machine hour
Machine hours in 2022
Depreciation in 2022