Depreciation by Three Methods; Partial Years
Layton Company purchased tool sharpening equipment on October for $ The equipment was expected to have a useful life of three years, or operating hours, and a residual value of $ The equipment was used for hours during Year hours in Year hours in Year and hours in Year
Required:
Determine the amount of depreciation expense for the years ended December Year Year Year and Year by a the straightline method, b unitsofactivity method, and c the doubledecliningbalance method.
Note: FOR DECLINING BALANCE ONLY, round the answer for each year to the nearest whole dollar.
a Straightline method
tableYearAmountYear $
