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Calculate depreciation expense for the equipment

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Reference no: EM133095865

Question - On September 1, 2021, Regina Corporation purchases equipment for manufacturing laptop computers for $197,400.

The equipment has an estimated useful life of 6 years.

The equipment has an estimated residual value of $18,750.

The equipment is expected to produce 95,000 computers over its estimated useful life.

During the 2021 year, the equipment is used to manufacture 4,706 computers.

Regina Corporation has a December 31 year end.

Required -

1. Calculate depreciation expense for the equipment for the 2021 and 2022 years, assuming that the double-declining balance method is used.

2. Calculate depreciation expense for the equipment for the 2021 year, assuming that the units-of-production method is used.

3. In accordance with generally accepted accounting principles, what factors should be considered in determining the method of depreciation to be used for a particular asset?

Reference no: EM133095865

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