Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $33,480. The equipment was expected to have a useful life of years or 6,400 operating hours, and a residual value of $1,080. The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 hours in Year 4. Required: 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. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Year 1 Year 2 Year 3 Year 4 Year Year 1 Year 2 Year 3 Amount c. Double-declining-balance method Amount Year 4 1000 Amount 10000

Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $33,480. The equipment was expected to have a useful life of years or 6,400 operating hours, and a residual value of $1,080. The equipment was used for 1,200 hours during Year 1, 2,300 hours in Year 2, 1,900 hours in Year 3, and 1,080 hours in Year 4. Required: 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. Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar. a. Straight-line method Year Year 1 Year 2 Year 3 Year 4 b. Units-of-activity method Year Year 1 Year 2 Year 3 Year 4 Year Year 1 Year 2 Year 3 Amount c. Double-declining-balance method Amount Year 4 1000 Amount 10000

Name: answer in text form please (without image) Depreciation by three metho
Uploaded: 2024-03-05T11:50:36.000Z
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Description: answer in text form please (without image) Depreciation by three methods; partial yearsLayton Company purchased tool sharpening equipment on October 1 for $33,480. The equipment was expected to have a useful life of 3years or 6,400 operating hours, a