Calculate the amount of depreciation to report during the year ended December 31, 2013, for equipment that

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Calculate the amount of depreciation to report during the year ended December 31, 2013, for equipment that was purchased at a cost of $43,000 on October 1, 2013. The equipment has an estimated residual value of $3,000 and an estimated useful life of five years or 20,000 hours. Assume the equipment was used for 1,000 hours from October 1 to December 31 and the company uses:
(a) Straight-line,
(b) Double-declining-balance, or
(c) Units-of-production depreciation?
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Related Book For  answer-question

Fundamentals of Financial Accounting

ISBN: 978-0078025372

4th edition

Authors: Fred Phillips, Robert Libby, Patricia Libby

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