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PSPlease use the form to fill out On March 31, 2024, Canseco Plumbing Fixtures purchased equipment for $42,000. Residual value at the end of an
PSPlease use the form to fill out
On March 31, 2024, Canseco Plumbing Fixtures purchased equipment for $42,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The company expects the equipment to operate for 10,000 hours. The equipment operated for 2,800 and 3,600 hours in 2024 and 2025 , respectively. Required: a. Calculate depreciation expense for 2024 and 2025 using straight-line method. b. Calculate depreciation expense for 2024 and 2025 using double-declining-balance method. c. Calculate depreciation expense for 2024 and 2025 using units-of-productionllusing hours operated. Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate depreciation expense for 2024 and 2025 using straight-line method. Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate depreciation expense for 2024 and 2025 using double-declining-balance method. On March 31, 2024, Canseco Plumbing Fixtures purchased equipment for $42,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The company expects the equipment to operate for 10,000 hours. The equipment operated for 2,800 and 3,600 hours in 2024 and 2025 , respectively. Required: a. Calculate depreciation expense for 2024 and 2025 using straight-line method. b. Calculate depreciation expense for 2024 and 2025 using double-declining-balance method. c. Calculate depreciation expense for 2024 and 2025 using units-of-production using hours operated. Complete this question by entering your answers in the tabs below. Calculate depreciation expense for 2024 and 2025 using units-of-production using hours operated. Note: Round "Depreciation per hour" answers to 2 decimal placesStep by Step Solution
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