Please help fill in Depreciation Expense. I will rate. Comparing Three Depreciation Methods Waylander...
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Please help fill in Depreciation Expense. I will rate.
Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $320,000. The equipment was expected to have a useful life of four years, or 20,000 operating hours, and a residual value of $35,000. The equipment was used for 7,200 hours during Year 1, 6,400 hours in Year 2, 4,400 hours in Year 3, and 2,000 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each method. Note: Round the answer for each year to the nearest whole dollar. Depreciation Expense Units-of-Activity Method Year Straight-Line Method Double-Declining-Balance Method Year 1 Year 2 $ Year 3 $ $ Year 4 $ $ Total 2. What method yields the highest depreciation expense for Year 1? 3. What method yields the most depreciation over the four-year life of the equipment
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Please help fill in Depreciation Expense. I will rate.