Chapter 11 Homework Saved Help Save & Exit Submit Check my work 1 Part 1 of 3 Required information [The following information applies to the questions displayed below) On January 1, 2021, the Allegheny Corporation purchased equipment for $130,000. The estimated service life of the equipment is 10 years and the estimated residual value is $9,000. The equipment is expected to produce 300,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 2 points eBook Print References 1. Straight-line Straight-Line Depreciation Choose Numerator: 1 Choose Denominator: Annual Depreciation Expense = Depreciation Expense Formula Cost minus residual Estimated Useful Life (years) Amounts 0 Depreciation Expense 2021 2022 Check my work ! 3 Required information [The following information applies to the questions displayed below.) On January 1, 2021, the Allegheny Corporation purchased equipment for $130,000. The estimated service life of the equipment is 10 years and the estimated residual value is $9,000. The equipment is expected to produce 300,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 2. Double-declining-balance. Double-Declining-Balance Method * Choose Denominator: Choose Numerator: Formula x = Depreciation Expense = Depreciation Expense X Amount for 2021 Amount for 2022 sele ## 3 Check my work ! -t 3 of 3 Required information [The following information applies to the questions displayed below.) On January 1, 2021, the Allegheny Corporation purchased equipment for $130,000. The estimated service life of the equipment is 10 years and the estimated residual value is $9,000. The equipment is expected to produce 300,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. ats eBook Print ferences 3. Units of production (units produced in 2021, 35,000; units produced in 2022,30,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: Calculate 2021 depreciation expense: Depreciation per unit rate Units produced in 2021 Depreciation in 2021 Calculate 2022 depreciation expense: Depreciation per unit rate Units produced in 2022 Depreciation in 2022