Use the information below to answer questions 1, 2 & 3 Purchase piece of Equipment Cost

$50,000 useful Life

6 years or 84,000 units

Salvage Value $8,000

Calculate Depreciation Expense for years 1, 2 & 3 using Straight Line Method

Depreciation year 1 ______________________________________

Depreciation year 2 _______________________________________

Depreciation year 3 _______________________________________

Calculate Depreciation Expense for years 1, 2 & 3 using Units of Production Method

Year 1 - 5,000 units produced __________________________________

Year 2 - 15,000 units produced _________________________________

Year 3 17,900 Units produced ________________________________

Calculate Depreciation Expense for years 1, 2 & 3 using (Double) Declining Balance Method

Depreciation year 1 _________________________

Depreciation year 2 _________________________

Depreciation year 3 _________________________

On August 1, 2015 XYZ Company purchases a piece of equipment that cost $83,000. The equipment has a useful life of 10 years and a salvage value of $11,000

4. Using Straight Line Depreciation method, how much depreciation expense should be recorded as of 12/31/15? _________________________________