On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $46,000. Residual value at the end of an estimated four-year service life is expected to be $4,000. The company expects the equipment to operate for 12,000 hours. The equipment operated for 3,000 and 3,800 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.

On March 31, 2021. Canseco Plumbing Fixtures purchased equipment for $46.000. Residual value at the end of an estimated four-year service life is expected to be $4.000. The company expects the equipment to operate for 12,000 hours. The equipment operated for 3.000 and 3.800 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. Answer is not complete. 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: 1 Choose Denominator: = Annual Depreciation Formula 1 Estimated Useful Life (years) Annual Depreciation Cost minus Residual IS 42.000 Amounts 1 4 S 10.500 Year Annual Depreciation Fraction of Year Depreciation Expense IS x S 2021 2022 10.500 10.500 4/12X = 4/12 = 3,500 3.500 X $ X $ Required A Required B > 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: II Fraction of Year Fraction of Year Depreciation Expense Depreciation Expense Formula Beginning Book Value Double the Straight-line Rate = IS 48.000 50 96 1/12 x X 11 = $ 23,000 Amount for 2021 Amount for 2022 IS 42.000 x x 50 96 = s 11,500 X Complete this question by entering your answers in the tabs below. Required A Required B Required 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