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Required information (The following information applies to the questions displayed below.) Exact Photo Service purchased a new color printer at the beginning of Year 1
Required information (The following information applies to the questions displayed below.) Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,540. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at $1,779,800 pages. Actual print production for the four years was as follows: Year 1 Year 2 Year 3 Year 4 Total 554,300 483,700 382,800 385,000 1,805,800 The printer was sold at the end of Year 4 for $4,000. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.) Depreciation Expense Year 1 Year 2 Year 3 Year 4 Total accumulated depreciation Required information [The following information applies to the questions displayed below.) Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,540. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at $1,779,800 pages. Actual print production for the four years was as follows: Year 1 Year 2 Year 3 Year 4 Total 554,300 483,700 382,800 385,000 1,805,800 The printer was sold at the end of Year 4 for $4,000. b. Compute the depreciation expense for each of the four years, using units-of-production depreciation. (Round cost per unit to three decimal places and final answers to the nearest whole dollar amount.) Depreciation Expense Year 1 Year 2 Year 3 Year 4 Total accumulated depreciation Required information [The following information applies to the questions displayed below.] Exact Photo Service purchased a new color printer at the beginning of Year 1 for $39,540. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at $1,779,800 pages. Actual print production for the four years was as follows: Year 1 Year 2 Year 3 Year 4 554,300 483,700 382,800 385,000 1,805,800 Total The printer was sold at the end of Year 4 for $4,000. C. Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. DDB Units-of- Production
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