Calculate the amount of depreciation to report during the year ended December 31 for equipment...
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Accounting
Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased at a cost of $56,000 on October 1. The equipment has an estimated residual value of $2,000 and an estimated useful life of five years or 20,000 hours. Assume the equipment was used for 1,000 hours from October 1 to December 31 and the company uses (a) straight-line, (b) double- declining-balance, or (c) units-of-production depreciation. (Do not round intermediate calculations.) Depreciation (a) (b) (c) Straight-Line Double-Declining-Balance Units-of-Production
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