Question
On January 1, 2021, the Allegheny Corporation purchased equipment for $146,000. The estimated service life of the equipment is 10 years and the estimated residual
On January 1, 2021, the Allegheny Corporation purchased equipment for $146,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods.
1. Straight line.
| Straight-Line Depreciation | |||||
| Choose Numerator: | / | Choose Denominator: | = | Annual Depreciation Expense | |
| / | = | Depreciation Expense | |||
| / | = | 0 | |||
| Depreciation Expense | |||||
| 2021 | |||||
| 2022 | |||||
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