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On March 31, 2021. Canseco Plumbing Fixtures purchased equipment for $48,000. Residual value at the end of an estimated four year service life is expected
On March 31, 2021. Canseco Plumbing Fixtures purchased equipment for $48,000. 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 12,000 hours. The equipment operated for 3,100 and 3,900 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 Annual Depreciation Choose Denominator Choose Numerator: Annual Depreciation Formula Amounts Depreciation Expense Fraction of Year Year Annual Depreciation $ 0 x 2021 2022 0 x $ Required B > 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 Calculate depreciation expense for 2021 and 2022 using double-declining balance method. Double-Declining Balance Method Choose Numerator: Choose Denominator Fraction of Year - Depreciation Expense Formula Fraction of Year Depreciation Expens Amount for 2021 % Amount for 2022
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