On March 31, 2018, Canseco Plumbing Fixtures purchased equipment for $50,000. Residual value at the...
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On March 31, 2018, Canseco Plumbing Fixtures purchased equipment for $50,000. Residual value at the end of an estimated four-year service life is expected to be $8,000. The company expects the machine to operate for 15,000 hours a. Calculate depreciation expense for 2018 and 2019 using straight line method b. Calculate depreciation expense for 2018 and 2019 using sum-of-the-years'-digits method c. Calculate depreciation expense for 2018 and 2019 using double-declining balance method Complete this question by entering your answers in the tabs below Required A Required B Required C Calculate depreciation expense for 2018 and 2019 using straight line method Straight-Line Depreciation Choose Numerator: Choose Denominator: = Annual Depreciation ost minus Salvage | Estimated Useful Life (years) Annual Depreciation = 42,000 10,500 Depreciation Expense Year Annual Depreciation x 2018$ 2019$ Fraction of Year | = 10,500 x 10,500 x 12/12 12/12 10,500 10,500
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