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Compute depreciation expense

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Question - Blossom Company purchased equipment for $303,200 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $15,200. Estimated production is 45,000 units and estimated working hours are 20,000. During 2020, Blossom uses the equipment for 530 hours and the equipment produces 1,000 units.

Compute depreciation expense under each of the following methods. Blossom is on a calendar-year basis ending December 31.

(a) Straight-line method for 2020

(b) Activity method (units of output) for 2020

(c) Activity method (working hours) for 2020

(d) Sum-of-the-years'-digits method for 2022

(e) Double-declining-balance method for 2021

Reference no: EM132608963

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