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right answer please On January 3, 2020, Xenex Innovations purchased computer equipment for $165,250. The equipment will be used in research and development activities for
right answer please
On January 3, 2020, Xenex Innovations purchased computer equipment for $165,250. The equipment will be used in research and development activities for five years or a total of 10,500 hours and then sold for about $34,000. Assume actual usage in hours of 2020 2,350 2021 1,980 2022 4,400 2023 3,180 2024 4,700 Required: Calculate depreciation expense and book values for each year of the equipment's life for each method of depreciation using the table provided below. Xenex's year-end is December 31. (Do not round intermediate calculations.) Straight-Line Depreciation Book Value at Expense December 31 Year Double-Declining-Balance Depreciation Book Value at Expense December 31 Units-of-Production Depreciation Book Value at Expense December 31 2020 2021 2022 2023 2024 Analysis Component: Which method will result in the greatest a. Total assets being reported on the balance sheet in 2020? in 2023? Analysis Component: Which method will result in the greatest: a. Total assets being reported on the balance sheet in 2020? in 2023? Depreciation Method 2020 2023 b. Operating expenses being reported on the income statement in 2020? in 2023? Depreciation Method 2020 2023Step by Step Solution
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