Question
PLS SHOW ALL THE STEPS! THXS On April 22, 2020, Sunland Enterprises purchased equipment for $138,700. The company expects to use the equipment for 11,500
PLS SHOW ALL THE STEPS! THXS
On April 22, 2020, Sunland Enterprises purchased equipment for $138,700. The company expects to use the equipment for 11,500 working hours during its 4-year life and that it will have a residual value of $14,500. Sunland has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,700 hours in 2020; 2,600 hours in 2021; 3,500 hours in 2022; 2,800 hours in 2023; and 1,100 hours in 2024.
Calculate depreciation expense for the life of the asset under double diminishing-balance method. (Round answers to 0 decimal places, e.g. 5,276.)
Depreciation Expense | ||
2020 | $ | |
2021 | $ | |
2022 | $ | |
2023 | $ |
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