On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $66,000. Residual value at the end of an estimated four-year service life is expected to be $6,000. The company expects the equipment to operate for 15,000 hours. The equipment operated for 4,000 and 4,800 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 straight-line method. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation Expense Formula = Amounts Depreciation Expense 2021 2022 On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $66,000. Residual value at the end of an estimated four-year service life is expected to be $6,000. The company expects the equipment to operate for 15,000 hours. The equipment operated for 4,000 and 4,800 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 x Choose Denominator: Choose Numerator: = Depreciation Expense Depreciation Expense Formula % = Amount for 2021 Amount for 2022 % = On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $66,000. Residual value at the end of an estimated four-year service life is expected to be $6,000. The company expects the equipment to operate for 15,000 hours. The equipment operated for 4,000 and 4,800 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 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
