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Calculate depreciation expense and book values for each year

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Reference no: EM132832160

Question - On January 3, 2020, Xenex Innovations purchased computer equipment for $127,000. The equipment will be used in research and development activities for five years or a total of 10,000 hours and then sold for about $17,000.

Assume actual usage in hours of:

2020

2021

2022

2023

2024

1,400

1,790

2,500

4,350

2,800

Required -

1. Calculate depreciation expense and book values for each year of the equipment's life for each method of depreciation using the table provided below. Xenex's year-end is December 31.

Analysis Component: Which method will result in the greatest:

a. Total assets being reported on the balance sheet in 2020? in 2023?

b. Operating expenses being reported on the income statement in 2020? in 2023?

Reference no: EM132832160

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