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solution for all of them thanks:) On December 27, 2018, Crane Windows purchased a plece of equipment for $112,000. The estimated useful life of the
solution for all of them thanks:)
On December 27, 2018, Crane Windows purchased a plece of equipment for $112,000. The estimated useful life of the equipment is either three years or 50,000 units, with a residual value of $10,000. The company has a December 31 fiscal year end and normally uses straight line depreciation. Management is considering the merits of using the units of production or diminishing-balance method of depreciation instead of the straight-line method. The actual numbers of units produced by the equipment were 13,300 in 2019, 20.800 in 2020, and 14,900 in 2021. The equipment was sold on January 5, 2022, for $15.000 Calculate the depreciation for the equipment for 2019 to 2021 under 1 2. the straight-line method the diminishing-balance method, using a 40% rate and units-of-production 3. (Round depreciable amount per unit to 3 decimal places, es 1.252 and the final answers to decimal places, es. 126.) o Depreciation Expense Diminishing-Balance Straight-Line Units-of-Production 2019 $ $ 2020 2021 e Textbook and Media Calculate the galn or loss on the sale of the equlpment under each of the three methods. (Enter negative amounts using either a negative sign preceding the number es, 45 or parentheses es (451) Gain (loss) on sale 1. Straight line 2. Diminishing balance $ 3. Unit-of-production cTextbook and Media Calculate the total depreciation expense plus the loss on sale for minus the gain on sale under each of the three depreciation methods Net Expense $ 1. Straight line 2. Diminishing-balance $ 3. Unit of production $ e Textbook and Media Step by Step Solution
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