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Calculate the amount of depreciation Santa would record

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Reference no: EM133094378

Question - On September 1, 2021 Santa's workshop purchased some new equipmenta costing $180,000. Santa anticipates the equipment willl be used 200,000 hours over the next five years,after which time Santa hopes to sell the equipment for $75,000. Santa has a December 31st year-end and used the equipment for a total of 6000 hours in 2021.

Required - Calculate the amount of depreciation Santa would record in 2021 assuming the following methods of depreciations were used:

a. Straight-Line Depreciation

b. Activity Method or Units of Production Method

c. Double-Declining Balance Method

Reference no: EM133094378

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