Calculate the amount of depreciation to report during the year ended December 31 for equipment...
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Accounting
Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased at a cost of $38,000 on October 1 . The equipment has an estimated residual value of $2,000 and an estimated useful life of five years or 20,000 hours. Required: Assume the equipment was used for 1,000 hours from October 1 to December 31 and the company uses (a) straight-line, (b) double-declining-balance, or ( c ) units-ofproduction depreciation. (Do not round intermediate calculations.)
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