answer in text form please (without image) Waylander Coatings Company purchased waterproofing equipment on January 6 for $508,400. The equipment was expected to have a useful life of 4 years, or 8,800operating hours, and a residual value of $42,000. The equipment was used for 3,300 hours during Year 1, 2,700 hours in Year 2, 1,600 hours in Year 3, and 1,200 hoursin Year 4.Required:1. 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. Also determine the total depreciation expense for the 4 years by each 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.Depreciation ExpenseUnits-of-ActivityMethodYearYear 1Year 2Year 3Year 4.Straight-LineMethodTotal2. What method yields the highest depreciation expense for Year 17Double-Declining-Balance Method3. What method yields the most depreciation over the 4-year life of the equipment?

Name: answer in text form please (without image) Waylander Coatings Company
Uploaded: 2024-03-05T11:50:36.000Z
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Description: answer in text form please (without image) Waylander Coatings Company purchased waterproofing equipment on January 6 for $508,400. The equipment was expected to have a useful life of 4 years, or 8,800operating hours, and a residual value of $42,000.

Depreciation is an expense which is recorded by the business entity due to wear and tear of the…

Business

Accounting

Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then, round the answer for each year to the nearest whole dollar. Depreciation Expense Units-of-Activity Method Year Year 1 Year 2 Year 3 Year 4. Straight-Line Method Total 2. What method yields the highest depreciation expense for Year 17 Double-Declining- Balance Method 3. What method yields the most depreciation over the 4-year life of the equipment?