Brief Exercise 11-3 Depreciation methods; partial years [LO11-2] On March 31, 2016, Canseco Plumbing Fixtures...
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Brief Exercise 11-3 Depreciation methods; partial years [LO11-2] On March 31, 2016, Canseco Plumbing Fixtures purchased equipment for $34,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The company expects the machine to operate for 10,000 hours. a. Calculate depreciation expense for 2016 and 2017 using straight line method. b. Calculate depreciation expense for 2016 and 2017 using sum-of-the-years-digits method. c. Calculate depreciation expense for 2016 and 2017 using double-declining balance method.
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