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Explain the declining balance depreciation methods

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Reference no: EM132765903

Question: Company A purchased equipment for $450,000 on January 1, 2019. The estimated useful life of the equipment is 10 years, while the salvage value is expected to be $20,000. The productive life of the equipment in units is 900,000 units. In the first year, the equipment produced 120,000 units and in the second year, it produced 80,000 units. Record the journal entry for depreciation expense on December 31, 2019 and December 31, 2020 under

1) activity,

2) straight line,

3) sum-of-years' digits, and

4) declining balance depreciation methods.

Reference no: EM132765903

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