On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $64,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. The company expects the equipment to operate for 10,000 hours. The equipment operated for 3,900 and 4,700 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 Choose Numerator: 1 Choose Denominator: Annual Depreciation Formula Cost minus Residual Estimated Useful Life (years) Annual Depreciation Amounts $ 54,000 1 4 $ 13,500 Year Fraction of Year Depreciation Expense 2021 Annual Depreciation X $ 13,500 x $ 13,500 x 2022 = $ 13,500 On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $64,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. The company expects the equipment to operate for 10,000 hours. The equipment operated for 3,900 and 4,700 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 double-declining-balance method. Double-Declining-Balance Method Choose Numerator: * Choose Denominator: X Fraction of Year = Depreciation Expense Depreciation Expense Formula Beginning Book Value * Double the Straight-line Rate Fraction of Year Amount for 2021 64,000 x 50 % II Amount for 2022 50 % On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $64,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. The company expects the equipment to operate for 10,000 hours. The equipment operated for 3,900 and 4,700 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 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
