Reference no: EM132775088
Question - The cost of equipment purchased by Sunland, Inc., on June 1, 2020, is $113,400. It is estimated that the machine will have a $4,200 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 54,600, and its total production is estimated at 682,500 units. During 2020, the machine was operated 6,840 hours and produced 62,700 units. During 2021, the machine was operated 6,270 hours and produced 54,700 units.
Required - Compute depreciation expense on the machine for the year ending December 31, 2020, and the year ending December 31, 2021, using the following methods:
(a) Straight-line
(b) Units-of-output
(c) Working hours
(d) Sum-of-the-years'-digits
(e) Double-declining-balance
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