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Required information

Exercise $11-3($Algo$)$ Depreciation methods; partial periods $[$LO$11-2]$

$[$The following information applies to the questions displayed below.$]$

On October $1,2024,$ the Allegheny Corporation purchased equipment for $$134,000.$ The estimated service life of the equipment is $10$ years and the estimated residual value is $$2,000.$ The equipment is expected to produce $240,000$ units during its life.

Required:

Calculate depreciation for $2024$ and $2025$ using each of the following methods. Partial$-$year depreciation is calculated based on the number of months the asset is in service.

Exercise $11-3($Algo$)$ Part $1$

Straight$-$line.

$\backslash$table$[[$Straight$-$Line Depreciation$],[,$Choose Numerator:,$,$Choose Denominator:,$=,$Annual Depreciation,$],[$Formula$,$Cost minus Residual,$,$Estimated Useful Life $($years$),=,$Annual Depreciation,$],[$Amounts$,,,,=,,],[$Year$,$Annual Depreciation,$,$Fraction of Year,,Depreciation expense,$],[2024,,,,=,,],[2025,,,,=,,]]$