Reference no: EM13823331
Razar Sharp Company purchased equipment on July 1, 2012, for $58,320. The equipment was expected to have a useful life of three years, or 5,400 operating hours, and a residual value of $1,620. The equipment was used for 1,000 hours during 2012, 1,900 hours in 2013, 1,600 hours in 2014, and 900 hours in 2015.
Required:
Determine the amount of depreciation expense for the years ended December 31, 2012, 2013, 2014, and 2015, 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 multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar.
a. Straight-line method
Year Amount
2012 $
2013 $
2014 $
2015 $
b. Units-of-output method
Year Amount
2012 $
2013 $
2014 $
2015 $
c. Double-declining-balance method
Year Amount
2012 $
2013 $
2014 $
2015 $
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Straight-line method and units-of-output method
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