Question: can you please solve this question On December 27, 2018, Crane Windows purchased a piece of equipment for $106,000. The estimated useful life of the

 can you please solve this question On December 27, 2018, Crane

Windows purchased a piece of equipment for $106,000. The estimated useful life

can you please solve this question

On December 27, 2018, Crane Windows purchased a piece of equipment for $106,000. 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 10,500 in 2019,18,000 in 2020, and 20,500 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. the straight-line method 2. the diminishing-balance method, using a 40% rate; and 3. units-of-production Straight-Line Depredation Expense Diminishing Balance $ Units-of-Production 2019 $ $ 2020 2021 eTextbook and Media Calculate the gain or loss on the sale of the equipment under each of the three methods. (Enter negative amounts using either a negative Gain (loss) on sale 1 Straight-line $ 2. Diminishing-balance $ 3. Unit-of-productions e Textbook and Media Calculate the total depreciation expense plus the loss on sale for minus the gain on sale under each of the three depreciation method Net Expense 1. Straight-line S 2. Diminishing-balance $ 3. Unit-of-production 5

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