Question: Please help with this question. Please show calculations!! Thank you. 1. The company purchased the equipment on October 1,20X1 for $100,000, and estimated that the
Please help with this question. Please show calculations!! Thank you.
1. The company purchased the equipment on October 1,20X1 for $100,000, and estimated that the equipment will use for 5 years and has a residual value of $2,000. The equipment has the following capacity: 10,000 service hours. December 31 is the reporting date. The equipment provided 600 and 2,200 service hours in 20X1 and 20X2, respectively. Required (10 marks) Note: Don't need to show calculation: Calculate depreciation expense for 20X1 and 20X2 using different methods in the following table
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