Required information Exercise 11-4 (Algo) Other depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $139,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 228,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Exercise 11-4 (Algo) Part 1 1. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) Year 2021 Answer is complete and correct. $ Depreciation expense 24,000 2022 $ 21,600
Required information Exercise 11-4 (Algo) Other depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $139,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 228,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Exercise 11-4 (Algo) Part 1 1. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) Year 2021 Answer is complete and correct. $ Depreciation expense 24,000 2022 $ 21,600
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Meman
![!
Required information
Exercise 11-4 (Algo) Other depreciation methods [LO11-2]
[The following information applies to the questions displayed below.]
On January 1, 2021, the Allegheny Corporation purchased equipment for $139,000. The estimated service life of the
equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 228,000 units
during its life.
Required:
Calculate depreciation for 2021 and 2022 using each of the following methods.
Exercise 11-4 (Algo) Part 1
1. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.)
Year
2021
Answer is complete and correct.
Depreciation
expense
$
24,000
2022
$
21,600](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff3150344-1784-487a-a8a8-3c4a32e10a09%2Fa7c69549-fd77-4709-86a1-69a9678d8c60%2F6mqabv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:!
Required information
Exercise 11-4 (Algo) Other depreciation methods [LO11-2]
[The following information applies to the questions displayed below.]
On January 1, 2021, the Allegheny Corporation purchased equipment for $139,000. The estimated service life of the
equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 228,000 units
during its life.
Required:
Calculate depreciation for 2021 and 2022 using each of the following methods.
Exercise 11-4 (Algo) Part 1
1. Sum-of-the-years'-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.)
Year
2021
Answer is complete and correct.
Depreciation
expense
$
24,000
2022
$
21,600
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