PLEASE ANSWER BOTH

Perdue Company purchased equipment on April 1 for $58,320. The equipment was expected to have a useful life of three years, or 7,560 operating hours, and a residual value of $1,620. The equipment was used for 1,400 hours during Year 1, 2,600 hours in Year 2, 2, 300 hours in Year 3, and 1,260 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year I, Year 2 Year 3, and Year 4, by (a) the straight-line method, (b) units-of-activity method, and (c) the double-declining-balance method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dotar a. Straight-line method Year Amount Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Amount Year 1 Year 2 Year 3 Year 4 Chatur 10 Home c. Double-declining balance method Year Amount Year! Year 2 Instructions The following transactions and adusting entries were completed by Legacy Furniture Co. during a three your period. All are related to the use of delivery equipment. The double-declining balance method of depreciation is used Year 1 Jan 4 Nov. 2 Purchased a used delivery truck for $28,400, paying cash Paid garage $750 for miscellaneous repairs to the truck. Recorded depreciation on the truck for the year. The estimated unetul to of the truck is four years, win a residual value of 55,265 for the track Dec 31 Your 2 Jan 6 Apr. 1 Purchased a new truck for $48.700, paying cath Sold the uned truck purchased on Jan. 4 of You 1 for $15.140. (Record depreciation to date in Year 2 for the truck) Paid garage $475 for miscellaneous repairs to the truck Recorded depreciation for the new truck. It has an estimated renkou value of 58.785 and an estimated te of five years June 11 Dec 31 Year 3 July 1 Oct 2 Purchased a new truck for $63,240, paying canh Sold the truck purchased January. Your 3 for $17.30, ocord depreciation to date for Your 3 for me truck Recorded depreciation on the remaining truck purchased on July 1st has an estimated residual value of $11.025 and an estimated useful life of eight yours Detai Journatzw the transactions and the adjusting entries. Fuler to the Chart of Accounts for exact wording of account ones. Seroll down to screw pages ? and 3 of the journal Jumatre the Year 1 transactions and acusting entries on Page 1 MGE JUDUL ACCOUNTING EQUATION DATE DESCRIPTION POSE CHE TIES OUTY mame Yharnations and stars on Page 2 DATE DESCRIPTION POST RER DERIT CREDIT ASSETS LABILITIES EQUITY 2 1 4 5 6 10 1 Adjusting 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 2 3 Adjusting Entries 15 11 Perdue Company purchased equipment on April 1 for $58,320. The equipment was expected to have a useful life of three years, or 7,560 operating hours, and a residual value of $1,620. The equipment was used for 1,400 hours during Year 1, 2,600 hours in Year 2, 2, 300 hours in Year 3, and 1,260 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year I, Year 2 Year 3, and Year 4, by (a) the straight-line method, (b) units-of-activity method, and (c) the double-declining-balance method. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dotar a. Straight-line method Year Amount Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Amount Year 1 Year 2 Year 3 Year 4 Chatur 10 Home c. Double-declining balance method Year Amount Year! Year 2 Instructions The following transactions and adusting entries were completed by Legacy Furniture Co. during a three your period. All are related to the use of delivery equipment. The double-declining balance method of depreciation is used Year 1 Jan 4 Nov. 2 Purchased a used delivery truck for $28,400, paying cash Paid garage $750 for miscellaneous repairs to the truck. Recorded depreciation on the truck for the year. The estimated unetul to of the truck is four years, win a residual value of 55,265 for the track Dec 31 Your 2 Jan 6 Apr. 1 Purchased a new truck for $48.700, paying cath Sold the uned truck purchased on Jan. 4 of You 1 for $15.140. (Record depreciation to date in Year 2 for the truck) Paid garage $475 for miscellaneous repairs to the truck Recorded depreciation for the new truck. It has an estimated renkou value of 58.785 and an estimated te of five years June 11 Dec 31 Year 3 July 1 Oct 2 Purchased a new truck for $63,240, paying canh Sold the truck purchased January. Your 3 for $17.30, ocord depreciation to date for Your 3 for me truck Recorded depreciation on the remaining truck purchased on July 1st has an estimated residual value of $11.025 and an estimated useful life of eight yours Detai Journatzw the transactions and the adjusting entries. Fuler to the Chart of Accounts for exact wording of account ones. Seroll down to screw pages ? and 3 of the journal Jumatre the Year 1 transactions and acusting entries on Page 1 MGE JUDUL ACCOUNTING EQUATION DATE DESCRIPTION POSE CHE TIES OUTY mame Yharnations and stars on Page 2 DATE DESCRIPTION POST RER DERIT CREDIT ASSETS LABILITIES EQUITY 2 1 4 5 6 10 1 Adjusting 11 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY 2 3 Adjusting Entries 15 11