On January 1, 2018, Canseco Plumbing Fixtures purchasedequipment for $64,000. Residual value at the end of an estimatedfour-year service life is expected to be $10,000. The companyexpects the machine to operate for 10,000 hours. The machineoperated for 3,900 and 4,700 hours in 2018 and 2019, respectively.Calculate depreciation expense for 2018 and 2019 using straightline method. Calculate depreciation expense for 2018 and 2019 usingsum-of-the-years'-digits method. Calculate depreciation expense for2018 and 2019 using double-declining balance method. Calculatedepreciation expense for 2018 and 2019 using units-of-productionmethod (using machine hours). (Round "Depreciation per machinehour" answers to 2 decimal places.)
On January 1, 2018, Canseco Plumbing Fixtures purchasedequipment for $64,000. Residual value at the end of an estimatedfour-year service life is expected to be $10,000. The companyexpects the machine to operate for 10,000 hours. The machineoperated for 3,900 and 4,700 hours in 2018 and 2019, respectively.Calculate depreciation expense for 2018 and 2019 using straightline method. Calculate depreciation expense for 2018 and 2019 usingsum-of-the-years'-digits method. Calculate depreciation expense for2018 and 2019 using double-declining balance method. Calculatedepreciation expense for 2018 and 2019 using units-of-productionmethod (using machine hours). (Round "Depreciation per machinehour" answers to 2 decimal places.)
Related questions
2.
On March 31, 2018, Canseco Plumbing Fixtures purchased equipment for $32,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The company expects the machine to operate for 20,000 hours.
a. Calculate depreciation expense for 2018 and 2019 using straight line method.
b. Calculate depreciation expense for 2018 and 2019 using sum-of-the-yearsâ-digits method.
c. Calculate depreciation expense for 2018 and 2019 using double-declining balance method.
A.
Calculate depreciation expense for 2018 and 2019 using straight line method.
| ||||||||||||||||||||||||||||||||||||||||||
B. Calculate depreciation expense for 2018 and 2019 using sum-of-the-yearsâ-digits method.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
C. Calculate depreciation expense for 2018 and 2019 using double-declining balance method.
| |||||||||||||||||||||||||||||
