Carla Vista Company purchased equipment on account on September 3, 2022, at an invoice price...
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Carla Vista Company purchased equipment on account on September 3, 2022, at an invoice price of $199,000. On September 4,2022 , it paid $5,200 for delivery of the equipment. A one-year, $1,990 insurance policy on the equipment was purchased on September 6 , 2022. On September 20,2022 . Carla Vista paid $2,800 for installation and testing of the equipment. The equipment was ready for use on October 1, 2022. Carla Vista estimates that the equipment's useful life will be four years, with a residual value of $15,500. It also estimates that, in terms of activity, the equipment's useful life will be 95,750 units. Carla Vista has a September 30 fiscal year end. Assume that actual usage is as follows: 2. double diminishing-balance, assuming a rate of 50% 2. DOUBLE DIMINISHING-BALANCE DEPRECIATION 3. UNITS-OF-PRODUCTION
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