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Determine the amortization expense for the year ending Dec

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Question - The following information pertains to the equipment acquired by Feghali Industries on Jan. 1, 2002. Use this information to answer parts 1,2 & 3

(1) Cost $140,000 Residual value $20,000 Estimated life 4 years

Estimated total production = 40,000 units

2002 production = 9,000 units

2003 production = 7,500 units

2004 production = 8,000 units

Required - Determine the amortization expense for the year ending Dec. 31/02 assuming the company uses the:

a) straight line method

b) units of production method

Reference no: EM132606509

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