Required Informetion
Use the following information for the Quick Studies below. Algo
The following information applies to the questions displayed below.
Equipment costing $ with a year useful life and an estimated $ salvage value is acquired and started operating on January The equipment is estimated to produce units of product during its life. It produced units in the first year.
QS Algo Computing depreclation under different methods LO P
Compute depreciation for the first year under straightline, unitsofproduction, and doubledecliningbalance.
Complete this question by entering your answers in the tabs below.
Required
Required
Compute depreciation for the first year under unitsofproduction.
tableSelect formula for the depreciation rate of Units of Production:Cost Salvage value Total units of productionCalculate the first year depreciation expense:Depreciation per unitUnits in first yearDepreciation in first year
