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On June 9, 2020, Cullumber Company purchased manufacturing equipment at a cost of $345,000. Cullumber estimated that the equipment will producs 600,000 units over its
On June 9, 2020, Cullumber Company purchased manufacturing equipment at a cost of $345,000. Cullumber estimated that the equipment will producs 600,000 units over its 5 year useful life, and have a residual value of $15,000. The company has a December 31 fiscal year end and has a policy of recording a half year's depreciation in the year of acquisition Calculate depreciation under the straight-ling method for 2020 and 2021 Depreciation Expense 2020 $ 2021 Calculate the depreciation expense under the double diminishing-balance method for 2020 and 2021 Depreciation Expense 2020 $ 2021 S Calculate the depreciation expense under the units-of-production method, assuming the actual number of units produced was 70.900 in 2020 and 118,200 in 2021. Round cost per unit to 2 decimal places, eg 5.27 and round find answers to decimal places, eg 5.275) Depreciation Expense 2020 S 2021 S
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