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Compute the depreciation expense

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Reference no: EM133123673

Question - Coronado Company purchased equipment for $222,800 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Coronado uses the equipment for 550 hours and the equipment produces 1,100 units.

Required - Compute depreciation expense under each of the following methods. Coronado 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: EM133123673

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