Question: Progress: 5 / 7 items Question Content Area Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $

Progress:5/7 items
Question Content Area
Depreciation by three methods; partial years
Layton Company purchased tool sharpening equipment on October 1 for $52,650. The equipment was expected to have a useful life of 3 years or 3,780 operating hours, and a residual value of $1,620. The equipment was used for 700 hours during Year 1,1,300 hours in Year 2,1,100 hours in Year 3, and 680 hours in Year 4.
Required:
Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method.
Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar.
a. Straight-line method
Year Amount

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