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Dexter Industries purchased packaging equipment on January 8 for $643,600. The equipment was expected to...

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Accounting

Dexter Industries purchased packaging equipment on January 8 for $643,600. The equipment was expected to have a useful life of four years, or 7,200 operating hours, and a residual value of $53,200. The equipment was used for 2,520 hours during Year 1, 1,512 hours in Year 2, 2,016 hours in Year 3, and 1,152 hours in Year 4.

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Depreciation Expense \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow{2}{*}{\begin{tabular}{l} Year \\ Year 1 \end{tabular}} & \multicolumn{2}{|c|}{ Straight-Line Method } & \multicolumn{2}{|c|}{\begin{tabular}{l} Units-of-Activity \\ Method \end{tabular}} & \multicolumn{2}{|c|}{\begin{tabular}{l} Double-Declining- \\ Balance Method \end{tabular}} \\ \hline & 2 & x & $ & x & of & x \\ \hline Year 2 & $ & x & \$ & x & $ & x \\ \hline Year 3 & $ & x & $4 & x & $ & x \\ \hline Year 4 & $ & x & $ & x & $ & x \\ \hline Total & $ & x & $ & x & & x \\ \hline \end{tabular}

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