Comparing three depreciation methods Dexter Industries purchased packaging equipment on January 8 for $81,900. The equipment was expected to have a useful life of 3 years, or 20,000 operating hours, and residual value of $4,500. The equipment was used for 7,600 hours during Year 1, 6,000 hours in Year 2, and 6,400 hours in Year 3. Required: 1. Determine the amount of depreciation expense for the 3 years ending December 31, by (a) the straight-line method, (b) the units-of-activity method, and (c) the dout declining-balance method. Also determine the total depreciation expense for the 3 years by each method. Do not round intermediate calculations when determining the depreciation rate. Round the final answers for each year to the nearest whole dollar. Year Year 1 Year 2 Straight-Line Method Depreciation Expense Units-of-Activity Method Year 3 Total 2. What method yields the highest depreciation expense for Year 1? Double-declining-balance method ✓ Double-Declining- Balance Method 3. What method yields the most depreciation over the 3-year life of the equipment? All three depreciation methods

Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $416,000. The equipment was expected to have a useful life of four years, or 7,200 operating hours, and a residual value of $34,400. The equipment was used for 2,520 hours during Year 1, 1,512 hours in Year 2, 2,016 hours in Year 3, and 1,152 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four years ending December 31 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. Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Year 1 Year 2 Year 3 Year 4 Total Straight-Line Method $ Units-of-Activity Method $ $ 2. What method yields the highest depreciation expense for Year 1? Double-Declining- Balance Method 3. What method yields the most depreciation over the four-year life of the…

Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $501,400. The equipment was expected to have a useful life of four years, or 10,000 operating hours, and a residual value of $41,400. The equipment was used for 3,800 hours during Year 1, 3,100 hours in Year 2, 1,800 hours in Year 3, and 1,300 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-output method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each 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. 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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Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $282,600. The equipment was expected to have a useful life of four years, or 4,800 operating hours, and a residual value of $23,400. The equipment was used for 1,680 hours during Year 1, 1,008 hours in Year 2, 1,344 hours in Year 3, and 768 hours in Year 4. Required: 1.  Determine the amount of depreciation expense for the four years ending December 31 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. Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method   Units-of-Activity Method   Double-Declining-Balance Method Year 1 $fill in the blank 1   $fill in the blank 2   $fill in the blank 3   Year 2 $fill in the blank 4   $fill in the blank 5   $fill in the blank 6   Year 3 $fill in the…

Required information [The following information applies to the questions displayed below] On January 1, Year 1, a company purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $16,000. The equipment is expected to produce 400.000 units during its life. Required: Calculate depreciation for Year 1 and Year 2 using each of the following methods. 3. Units of production (units produced in Year 1, 48,000; units produced in Year 2, 43,000). Note: Round "Depreciation per unit rate" answers to 2 decimal places. Select formula for Units of Production Depreciation: Calculato Year 1 depreciation expense Depreciation per unit rate Units produced in Year 1 Depreciation in Year 1 Calculate Year 2 depreciation expense: Depreciation per unit rate. Units produced in Year 2 Depreciation in Year 2

Dexter Industries purchased packaging equipment on January 8 for $314,600. The equipment was expected to have a useful life of three years, or 7,800 operating hours, and a residual value of $26,000. The equipment was used for 3,120 hours during Year 1, 2,418 hours in Year 2, and 2,262 hours in Year 3. Required: 1.  Determine the amount of depreciation expense for the three years ending December 31, Year 1, Year 2, Year 3, 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 three years by each method. Note: For all methods, round the answer for each year to the nearest whole dollar. Depreciation Expense Year Straight-Line Method Units-of-Activity Method Double-Declining-Balance Method Year 1 $fill in the blank 1   $fill in the blank 2   $fill in the blank 3   Year 2 $fill in the blank 4   $fill in the blank 5   $fill in the blank 6   Year 3 $fill in the blank 7…

Comparing Three Depreciation Methods Dexter Industries purchased packaging equipment on January 8 for $479,600. The equipment was expected to have a useful life of four years, or 8,000 operating hours, and a residual value of $39,600. The equipment was used for 2,800 hours during Year 1, 1,680 hours in Year 2, 2,240 hours in Year 3, and 1,280 hours in Year 4. Required: 1. Determine the amount of depreciation expense for the four years ending December 31 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. Round the answer for each year to the nearest whole dollar. Depreciation Expense Year Year 1 Year 2 Year 3 Year 4 Total Straight-Line Method Units-of-Activity Method 2. What method yields the highest depreciation expense for Year 1? Double-declining-balance method Double-Declining- Balance Method 3. What method yields the most depreciation over…

Comparing Three Depreciation Methods Waylander Coatings Company purchased waterproofing equipment on January 6 for $248,600. The equipment was expected to have a useful life of four years, or 7,600 operating hours, and a residual value of $20,600. The equipment was used for 2,900 hours during Year 1, 2,400 hours in Year 2, 1,400 hours in Year 3, and 900 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-output method, and (c) the double-declining-balance method. Also determine the total depreciation expense for the four years by each 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. Depreciation Expense Year Straight-Line Method Units-of-Output Method Double-Declining-Balance Method Year 1 $fill in the blank 1 $fill in the blank 2 $fill…

Perdue Company purchased equipment on April 1 for $59,940. The equipment was expected to have a useful life of three years, or 4,320 operating hours, and a residual value of $1,620. The equipment was used for 800 hours during Year 1, 1,500 hours in Year 2, 1,300 hours in Year 3, and 720 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) 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 Amount Year 1 $fill in the blank 1 Year 2 $fill in the blank 2 Year 3 $fill in the blank 3 Year 4 $fill in the blank 4 b.  Units-of-activity method Year Amount Year 1 $fill in the blank 5 Year 2 $fill in the blank 6 Year 3 $fill in the blank 7 Year 4 $fill in the…