Question

Help !! I keep getting the last one wrong & I can’t add all the numbers up if I don’t have that answer

ssignmentSessionLocator assignment-take&inprogress-false Comparing Three Depreciation Methods Waylander Coatin years, or 9.200 operating hours, and a residual value of $67,000. The equipment was used for 3,500 hours during Year 1,2,900 hours in Year 2, 1,700 gs Company purchased waterproofing equipment on January 6 for $812,200. The equipment was expected to have a useful life of four in Year 3, and 1,100 hours in Year 4. Required: 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 the units-of-output method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each met Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest nhole dolar Depreciation Expense Year Year 1 Year 2 Year 3 Year 4 Total 2. What method yields the highest depreciation expense for Year 17 Double-declining-balance method 3. What method yields the most depreciation over the four-year life of the equipment? Straight-Line Method Units-of-Output Method Double-Declining-Balance Method 186,300 186,300 186,300 406,100 283,500 234,900 137,700 89,100 745,200 203,050 101,525 186,300 745,200 Previous Check My Work All work saved.

Answer 1

The depreciation for Year 4 under the double declining balance method is $ 50,762.50 in absolute figures. However, as mentioned in the note given in the problem, we are supposed to round off the depreciation figures to 4 decimal places and then round the figure off to the nearest dollar. Since the depreciation is $ 50,762.5, rounding it off to the nearest whole number should give us $50,763.00. So this should be your answer.

The logic used is that in rounding off to the nearest whole number, 0.0,0.1,0.2,0.3,0.4 is rounded downwards to the previous whole number (i.e 1.2 will be rounded off to1) and 0.5,0.6,0.7,0.8,0.9 is rounded upwards toward the next whole number (i.e 2.5 will be rounded off to 3).

However, in case you are still getting a wrong answer, there may be some error in the software and hence, try putting in $ 50,762 and you may get a correct answer. (I hope this is not the case)

I have attached the calculation for your reference.