Reference no: EM132748728

Question - Jackson Company purchased a new piece of equipment on July 1, 2020 at a cost of $36,000. The equipment has an estimated useful life of 10 years and an estimated residual value of $6,000. During its ten-year useful life, the equipment is expected to produce 500,000 units. The equipment actually produced the following number of units: 2020, 25,000; 2021, 84,000; and 2022, 90,000.

Required -

(a) Calculate depreciation expense for 2020, 2021, and 2022 assuming Jackson uses straight-line depreciation.

(b) Calculate depreciation expense for 2020, 2021, and 2022 assuming Jackson uses units-of-production depreciation.

(c) Calculate depreciation expense for 2020, 2021, and 2022 assuming Jackson uses sum-of-the-years'-digits depreciation. Round your answers to the nearest whole dollar.

(d) Calculate depreciation expense for 2020, 2021, and 2022 assuming Jackson uses double-declining balance depreciation.