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8. Shredding Corporation purchased equipment for $384,000. The estimated...

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Accounting

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8. Shredding Corporation purchased equipment for $384,000. The estimated useful life of the equipment is four years, and the estimated residual value is $12,000. You can assume that the estimated useful life is 480,000 units. The actual number of units produced in year 1 were 170,000 and 175,000 in year 2. (14 marks) Depreciation expense for Carrying amount at the end of Method of Depreciation Year 1 Year 2 Year 1 Year 2 Straight-line Units of production Double declining balance a) Complete the above chart, rounding to the nearest dollar. (Show computations separately.) b) Which method would result in the lowest net earnings for year 1? Year 2

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