Question: Please review my calculation A , B and please help with C, also correct if there is wrong. Thank you On January 1, 2021, Canseco
Please review my calculation A , B and please help with C, also correct if there is wrong. Thank you
On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $44,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The company expects the equipment to operate for 20,000 hours. The equipment operated for 2,900 and 3,700 hours in 2021 and 2022, respectively.
Required: a. Calculate depreciation expense for 2021 and 2022 using straight-line method. b. Calculate depreciation expense for 2021 and 2022 using double-declining-balance method. c. Calculate depreciation expense for 2021 and 2022 using units-of-production using hours operated.
Calculate depreciation expense for 2021 and 2022 using straight-line method.
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Calculate depreciation expense for 2021 and 2022 using double-declining-balance method.
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Calculate depreciation expense for 2021 and 2022 using units-of-production using hours operated. (Round "Depreciation per machine hour" answers to 2 decimal places.)
Select formula for Units of Production Depreciation: Calculate 2021 depreciation expense: Depreciation per machine hour Machine hours in 2021 Depreciation in 2021 Calculate 2022 depreciation expense: Depreciation per machine hour Machine hours in 2022 Depreciation in 2022
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