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Posted by: Homeworkhelp
Price Quoted by Student: $5
Posted On: 2011-09-07 09:09:12
 
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BE 11-2 On January 1, 2011, Canseco Plumbing Fixtures purchased equipment for $30,000.

 

ANSWER KEY BE 11-2 Depreciation methods

 

On January 1, 2011, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of an estimated four-year service life is expected to be $2,000. The company expects the machine to operate for 10,000 hours. Calculate depreciation expense for 2011 and 2012 using each of the following depreciation methods: (a) straight line, (b) sum-of-the-years'-digits, (c) double-declining balance, and (d) units-of-production using machine hours. The machine operated for 2,200 and 3,000 hours in 2011 and 2012, respectively.


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