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28 Sep 2019
Perdue company purchased equipment on April 1st for $79650. the equipment was expected to have a useful life of 3 years, or 7,020 operating hours, and a residual value of $2,430. the equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4.
Required: determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4 by the straight-line method. units of output method, and the double declining balance method.
Note: for declining balance only around the multiplier to four decimal places. Dan round the answer for each year to the nearest whole dollar.
Perdue company purchased equipment on April 1st for $79650. the equipment was expected to have a useful life of 3 years, or 7,020 operating hours, and a residual value of $2,430. the equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4.
Required: determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4 by the straight-line method. units of output method, and the double declining balance method.
Note: for declining balance only around the multiplier to four decimal places. Dan round the answer for each year to the nearest whole dollar.
Deanna HettingerLv2
28 Sep 2019