Reference no: EM132952558
Waylander Coatings Company purchased waterproofing equipment on January 6 for $805,800. The equipment was expected to have a useful life of four years, or 8,800 operating hours, and a residual value of $66,600. The equipment was used for 3,300 hours during Year 1, 2,700 hours in Year 2, 1,600 hours in Year 3, and 1,200 hours in Year 4.
Required:
Problem 1. Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method.
Problem 2. What method yields the highest depreciation expense for Year 1?
Problem 3. What method yields the most depreciation over the four-year life of the equipment?
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