Livingston Corp. purchased printer on January 1, 2018. The company year-end is December 31. The following...
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Livingston Corp. purchased printer on January 1, 2018. The company year-end is December 31. The following information is applicable: Cost $5,000 Estimated useful life 4 years Year 2018 2019 2020 2021 Total Residual value $1,000 Straight-line Usage (units) 2018 2019 2020 2021 Required: 1. Calculate the depreciation expense for the four-year period under each of these depreciation methods: straight-line, double-declining balance, and usage. Assume the company uses the ½ year rule to calculate depreciation expense in the year of acquisition and disposal where applicable. Present your solution in the following format: Depreciation expense Double- declining balance 10,000 15,000 20,000 5,000 Usage Livingston Corp. purchased printer on January 1, 2018. The company year-end is December 31. The following information is applicable: Cost $5,000 Estimated useful life 4 years Year 2018 2019 2020 2021 Total Residual value $1,000 Straight-line Usage (units) 2018 2019 2020 2021 Required: 1. Calculate the depreciation expense for the four-year period under each of these depreciation methods: straight-line, double-declining balance, and usage. Assume the company uses the ½ year rule to calculate depreciation expense in the year of acquisition and disposal where applicable. Present your solution in the following format: Depreciation expense Double- declining balance 10,000 15,000 20,000 5,000 Usage
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Straight line method Depreciation expenses cost residual valueuseful life Double declining balance m... View the full answer
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date:
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