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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* CengageNOWv2 | Online teachin x 2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false uTube Maps O New Tab 6 Cookie Cash 11 6,530 Accounts Receivable 12 2,100 Prepaid Expenses 13 700 Equipment 18 13,700 Accumulated Depreciation 19 1,100 Accounts Payable 21 1,900 Notes Payable 22 4,300 Bob Steely, Capital 31 12,940 Bob Steely, Drawing 32 790 Fees Earned 41 9,250 Wages Expense 51 2,500 Rent Expense 52 1,960 Utilities Expense 53 775 Depreciation Expense 54 250 Miscellaneous Expense 59 185 Totals 29,490 29.490 Determine the net income (loss) for the period. Oa Net loen in /7an items 58:05 All work saved. ere to search
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