Razar Sharp Company purchased equipment on July 1, 2014, for $27,540. The equipment was expected to have a useful life of three years, or 5,940 operating hours, and a residual value of $810. The equipment was used for 1,100 hours during 2014, 2,100 hours in 2015, 1,800 hours in 2016, and 940 hours in 2017. Required: Determine the amount of depreciation expense for the years ended December 31, 2014, 2015, 2016, and 2017, 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 2014 $ 2015 $ 2016 $ 2017 $ b. Units-of-output method Year Amount 2014 $ 2015 $ 2016 $ 2017 $ c. Double-declining-balance method Year Amount 2014 $ 2015 $ 2016 $ 2017 $
Razar Sharp Company purchased equipment on July 1, 2014, for $27,540. The equipment was expected to...
Razar Sharp Company purchased equipment on July 1, 2014, for $43,470. The equipment was expected to have a useful life of three years, or 6,480 operating hours, and a residual value of $1.350. The equipment was used for 1,200 hours during 2014, 2,300 hours in 201 s, i,900 hours in 2016, and ?,0b0 hours in 2017. Required Determine the amount of depreciation expense for the years ended December 31, 2014, 2015, 2016, and 2017, by (a) the straight-line method, (b)...
Depreciation by Three Methods; Partial Years Perdue Company purchased equipment on April 1 for $48,870. The equipment was expected to have a useful life of three years, or 5,940 operating hours, and a residual value of $1,350. The equipment was used for 1,100 hours during Year 1, 2,100 hours in Year 2, 1,800 hours in Year 3, and 940 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2,...
Depreciation by Three Methods; Partial Years Perdue Company purchased equipment on April 1 for $42,930. The equipment was expected to have a useful life of three years, or 5,940 operating hours, and a residual value of $1,350. The equipment was used for 1,100 hours during Year 1, 2,100 hours in Year 2, 1,800 hours in Year 3, and 940 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2,...
Perdue Company purchased equipment on April 1 for $68,580. The equipment was expected to have a useful life of three years, or 7,020 operating hours, and a residual value of $1,890. The equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by...
Perdue Company purchased equipment on April 1 for $43,470. The equipment was expected to have a useful life of three years, or 7,020 operating hours, and a residual value of $1,350. The equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4. Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a)...
Dexter Industries purchased packaging equipment on January 8 for $534400. The equipment was expected to have a useful life of three years, or 5,700 operating hours, and a residual value of $44,200. The equipment was used for 2,280 hours during Year 1, 1767 hours in Year 2, and 1,653 hours in Year 3. Required:1.Determine the amount of depreciation expense for the three years ended December 31 by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method....
Depreciation by Three Methods; Partial Years Perdue Company purchased equipment on April 1 for $32,670. The equipment was expected to have a useful life of three years, or 7,020 operating hours, and a residual value of $1,080. The equipment was used for 1,300 hours during Year 1, 2,500 hours in Year 2, 2,100 hours in Year 3, and 1,120 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2,...
PR 10-2B Comparing three depreciation methods OBJ. 2 oWaylander Coatings Company purchased waterproofing equipment on January 6, 2015, for $320,000. The equipment was expected to have a useful life of four years, or 20,000 operating hours, and a residual value of $35,000. The equipment was used for 7,200 hours during 2015, 6,400 hours in 2016, 4,400 hours in 2017, and 2,000 hours in 2018. Instructions 1. Determine the amount of depreciation expense for the years ended December 31, 2015, 2016,...
Dexter Industries purchased packaging equipment on January 8 for $87,200. The equipment was expected to have a useful life of three years, or 20,000 operating hours, and a residual value of $7,200. The equipment was used for 8,590 hours during Year 1, 7,370 hours in Year 2, and 4,040 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the three years ended December 31 by (a) the straight-line method, (b) the units-of-activity method, and (c) the...
Depreciation by Three Methods; Partial Years Perdue Company purchased equipment on April 1 for $48,870. The equipment was expected to have a useful life of three years, or 4,320 operating hours, and a residual value of $1,350. The equipment was used for 800 hours during Year 1, 1.500 hours in Year 2, 1,300 hours in Year 3, and 720 hours in Year 4. Required: Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2,...