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PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU!
Required Information The following Information applies to the questlons displayed below] On January 1, 2021, the Allegheny Corporation purchased equipment for $151,000. The estimated service life of the equlpment is 10 years and the estimated residual value Is $8,000. The equlpment is expected to produce 232,000 units during Its life. Requlred: Calculate depreciation for 2021 and 2022 using each of the following methods 1. Sum-of-the-years-digits (Do not round intermediate calculations. Round final answers to the nearest whole dollar amount.) Depreciation expense Year 2021 2022 2. One hundred fifty percent declining balance. (Round final answers to the nearest whole dollar amount.) Depreciation Year expense 2021 2022 3. Assume Instead the equlpment was purchased on October 1, 2021. Calculate depreclation for 2021 and 2022 using each of the two methods. Partlal-year depreclation Is calculated based on the number of months the asset is In service (Do not round intermediate answers and round your answers to the nearest whole dollar amount.) 2021 2022 Sum-of-the-years' digits One hundred fifty pert declining balance
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