question 1

question 2

Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14,000 operating hours, and a residual value of $10,000. Compute the depreciation for the first and second years of use by each of the following methods. a. Straight-line: First year Second year b. Units-of-output (1,200 hours first year; 2,250 hours second year): First year Second year C. Double-declining-balance: First year Second year On the first day of the fiscal yea, acompanyes a 651,000 year bond that as an interest of 201851,000 receiving cash 1,000 the entry to read the first and the mortation of the related and discount/premium using the straight line method If an amount box does not require an entry leave bank or to Bonds Payable Cash Interest Expense Notes Payable Premium on Bonds Payable