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Calculate the depreciation expense for the september

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Question - ACME Limited purchased a freezer for a cost of $88,000 on July 1, 2020. The estimated useful life is 14 years or 144,000 hours of operation. The company feels they could dispose of the freezer at the end of its life for $4,280. The freezer operated for 23,400 hours during the year. The company's year-end: September 30, 2020

Required - Calculate the depreciation expense for the September 30, 2020 year-end and provide the journal entry, under the Units-of-Production method.

How would your answer change if ACME Limited followed the Straight-Line method instead?

Reference no: EM133163075

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