depreciation expense per hour = (cost of equipment - estimated salvage value) / total hours during equipment's life
depreciation expense per hour = ($500,000 - $14,000) / 18,000
depreciation expense per hour = $486,000 / 18,000
depreciation expense per hour = $27 per hour
depreciation expense for year ended December 31, 2020 = depreciation expense per hour * hours used during the year
depreciation expense for year ended December 31, 2020 = $27 * 6,000
depreciation expense for year ended December 31, 2020 = $162,000
hence, debit to
depreciation expense for year ended December 31, 2020 shall be $162,000
hence, the correct answer is D. $162,000
On January 2, 2019. Konrad Corporation acquired equipment for $500,000. The estimated life of the equipment is 5 yea...
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Need help On January 2, 2019, Kaiman Corporation acquired equipment for $800,000. The estimated life of the equipment is 5 years or 60,000 hours. The estimated residual value is $10,000. What is the balance in Accumulated Depreciation on December 31, 2020, if Kaiman Corporation uses the straight-line method of depreciation? O A. $158,000 OB. $160,000 O C. $320,000 OD. $316.000
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