Reference no: EM132321923
Question
Depreciation by Three Methods; Partial Years
Layton company purchased tool sharpening equipment on October 1 for $108,000 the equipment was expected to have a useful life of three years or 12,000 operating hours, and a residual value of $7200. The equipment was used for 1,350 hours during year one, 4200 hours in year two, 3650 hours in year three, and 2800 hours in year four
Required:
Determine the amount of depreciation expense for the years ended: December 31, year one, year two, your three, and year four, by (a) The straight-line method, (b) units of output method, and (c) The double declining balance method
Note: FOR DECLINING BALANCE ONLY, round the answer for each year to the nearest whole dollar.
a. Straight-line method
Year Amount
Year 1 $.
Year 2 $
Year 3 $
Year 4 $.
b. Units-of-output method
Year Amount
Year 1 $
Year 2 $
Year 3 $
Year 4 $.....
c. Double-declining-balance method
Year Amount
Year 1 $
Year 2 $. .
Year 3 $
Year 4 $
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