calculate depreciation with 1 straight line method 2 double declining balance method 3 requirement given in imageplease solve three subparts without handwritten thanku 3. Units of production (units produced in 2021, 14,000; units produced in 2022, 29,000). (Round "Depreciation per unit rate" answersto 2 decimal places.)Select formula for Units of Production Depreciation:Calculate 2021 depreciation expense:Depreciation per unit rateUnits produced in 2021Depreciation in 2021Calculate 2022 depreciation expense:Depreciation per unit rateUnits produced in 2022Depreciation in 2022S- Required informationExercise 11-3 (Algo) Depreciation methods partial periods [LO11-2][The following information applies to the questions displayed below.]On October 1, 2021, the Allegheny Corporation purchased equipment for $157,000. The estimated service life of theequipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 350,000 unitsduring its life.Required:Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculatedbased on the number of months the asset is in service.

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Description: calculate depreciation with 1 straight line method 2 double declining balance method 3 requirement given in imageplease solve three subparts without handwritten thanku 3. Units of production (units produced in 2021, 14,000; units produced in 2022, 29

Depreciation Expense - Depreciation is an Expense incurred on use, wear and tear, passage of time…

Business

Accounting

Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $157,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service.

Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $157,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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