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Calculate amortization expense under units-of-production

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Reference no: EM132615440

Sam & Sons Ltd. purchased machinery on September 30, 2018, at a total cost of $46,500. Sam estimated the useful life of the machinery to be eight years or 50,000 hours, with an estimated residual value of $3,500. The machinery was used for 5,000 hours in 2018 and 12,000 hours in 2019.

Problem 1: Calculate amortization expense for 2018 and 2019 under

1. Straight-line

2. Double-declining-balance

3. Units-of-production

Reference no: EM132615440

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