Question: Help on understanding HOW to work out the problem! I got it wrong the first time so don't know what I'm doing wrong. T.I.A PR
PR 9-3A Depreciation by three methods: partial years Obj. 2 5,250 Perdue Company on April 1 The equipment was expected to have life of three years or operating hours, and a residual value of S9,000. The equipment was used for 7,500 hours during Year 1, 5,500 hours in Year 2, 4,000 hours in Year 3, and 1,000 hours in Year 4. MPLATE Instructions Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, 3, and Year 4, by (A) straight-line method, (B) the u double-declining-balance method
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