eBook Depreciation by three methods; partial years Perdue Company purchased equipment on April 1 for $56,700. The equipment was expected to have a useful life of 3 years, or 6,480 operating hours, and a residual value of $1,620. The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 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 final multiplier to four decimal places. Then, round the answer for each year to the nearest whole dollar. a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Year 1 Year 2 Amount Amount Check My Work 4 more Check My Work uses remaining. Previous a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Year 1 Year 2 Amount 0000 Amount Year 3 Year 4 c. Double-declining-balance method Year Year 1 Year 2 Year 3 Year 4 Amount Check My Work 4 more Check My Work uses remaining.
eBook Depreciation by three methods; partial years Perdue Company purchased equipment on April 1 for $56,700. The equipment was expected to have a useful life of 3 years, or 6,480 operating hours, and a residual value of $1,620. The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 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 final multiplier to four decimal places. Then, round the answer for each year to the nearest whole dollar. a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Year 1 Year 2 Amount Amount Check My Work 4 more Check My Work uses remaining. Previous a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Year 1 Year 2 Amount 0000 Amount Year 3 Year 4 c. Double-declining-balance method Year Year 1 Year 2 Year 3 Year 4 Amount Check My Work 4 more Check My Work uses remaining.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter8: Operating Assets: Property, Plant, And Equipment, And Intangibles
Section: Chapter Questions
Problem 8.7AMCP
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