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On January 1, 2024, the Allegheny Corporation purchased equipment for $115,000. The estimated service life of the equipment is 10 years and the estimated residual

On January 1, 2024, the Allegheny Corporation purchased equipment for $115,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Round all computations to the nearest dollar. 1. Straight line 2. Double-declining balance 3. Units of production (units produced in 2024, 30,000; units produced in 2025, 25,000)

On January 1,2024 , the Allegheny Corporation purchased equipment for $115,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Round all computations to the nearest dollar. 1. Straight line 2. Doubledeclining balance 3. Units of production (units produced in 2024, 30,000; units produced in 2025,25,000 )

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