Yukon Productions Corp. purchased equipment on March 1, 2015, for $70,000. The company estimated the equipment would have a useful life of three years and produce 12,000 units, with a residual value of $7,400. During 2015, the equipment produced 4,900 units. On November 30, 2016, the machine was sold for $20,000 and had produced 5,700 units that year.

Problem 9-7A (Part Level Submission) Yukon Productions Corp, purchased equipment on March 1, 2015, for $70,000. The company estimated the equipment would have a useful life of three years and produce 12,000 units, with a residual value of $7,400. During 2015, the equipment produced 4,900 units. On November 30, 2016, the machine was sold for $20,000 and had produced 5,700 units that year. Your answer is partially correct. Try again. Complete the following schedule for each method of depreciation and compare the total expense over the two-year period. (Round answers to o decimal places, e.g. 5,275.) Straight- Line Diminishing- Balance Units-of- Production Depreciation expense 2015 25578 46667 25562 2016 Total depreciation expense for two years +Loss (or - gain) on disposal - Net expense for two years 29754 1555S 29735 55332 62222 55297 14669 7778 4703 70000 7000011 70000