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Calculate depreciation expense

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Question - On March 31, 2021, Canseco Plumbing Fixtures purchased equipment for $52,000. Residual value at the end of an estimated four-year service life is expected to be $4,000. The company expects the equipment to operate for 12,000 hours. The equipment operated for 3,300 and 4,100 hours in 2021 and 2022, respectively.

Required -

a. Calculate depreciation expense for 2021 and 2022 using straight-line method.

b. Calculate depreciation expense for 2021 and 2022 using double-declining-balance method.

c. Calculate depreciation expense for 2021 and 2022 using units-of-production using hours operated.

Reference no: EM132598565

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