Reference no: EM131128201
Razar Sharp Company purchased tool sharpening equipment on July 1, 2008, for $48,600. The equipment was expected to have a useful life of three years, or 7,500 operating hours, and a residual value of $3,000. The equipment was used for 1,800 hours during 2008, 2,600 hours in 2009, 2,000 hours in 2010, and 1,100 hours in 2011.
Instructions
Determine the amount of depreciation expense for the years ended December 31, 2008,
2009, 2010, and 2011, by
(a) The straight-line method,
(b) The units-of-production method, and
(c) The double-declining-balance method.
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The double declining balance method
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Razar sharp company purchased tool sharpening
: Razar Sharp Company purchased tool sharpening equipment on July 1, 2008, for $48,600. The equipment was expected to have a useful life of three years, or 7,500 operating hours, and a residual value of $3,000.
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The following columnar headings are suggested for recording
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