Question: Please I need the answer in 20 minutes or less Computer equipment was acquired at the beginning of the year at a cost of $100,000
Please I need the answer in 20 minutes or less
Computer equipment was acquired at the beginning of the year at a cost of $100,000 that has an estimated residual value of $5,000 and an estimated useful life of 5 years.
Part 1. Determine the (a) annual straight-line depreciation expense and (b) the accumulated depreciation for year 4.
Part 2. Determine (a) the depreciation rate and (b) the depreciation expense for this year under Units of Production if the equipment will last for 15,000 hours and it was used this year for 1,500 hours.
Part 3. Determine (a) the depreciation expense for year 2 and the (b) net book value for year 2 using the double declining balance depreciation method.
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