Reference no: EM132381239
Question
Jackson Company purchased a new piece of equipment on July 1, 2019 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: 2019, 25,000; 2020, 84,000; and 2021, 90,000.
Required:
(a) Calculate depreciation expense for 2019, 2020, and 2021 assuming Jackson uses straight-line depreciation.
(b) Calculate depreciation expense for 2019, 2020, and 2021 assuming Jackson uses units-of- production depreciation.
(c) Calculate depreciation expense for 2019, 2020, and 2021 assuming Jackson uses sum-of-the- years'-digits depreciation. Round your answers to the nearest whole dollar.
(d) Calculate depreciation expense for 2019, 2020, and 2021 assuming Jackson uses double-declining balance depreciation.
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