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Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on...

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Accounting

Depreciation by three methods; partial years
Layton Company purchased tool sharpening equipment on October 1 for $81,810. The equipment was expected to have a useful life of 3 years or 7,560 operating hours, and a residual value of $2,430. The equipment was used for 1,400 hours during Year 1,2,600 hours in Year 2,2,300 hours in Year 3, and 1,260 hours in Year 4.
Required:
Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) the units-of-activity method, and (c) the double-declining-balance method.
Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar.
a. Straight-line method
Year Amount
Year 1 $________
Year 2 $________
Year 3 $_________
Year 4 $________
b. Units-of-activity method
Year Amount
Year 1 $_________
Year 2 $________
Year 3 $__________
Year 4 $__________
c. Double-declining-balance method
Year Amount
Year 1 $_______
Year 2 $_______
Year 3 $_______
Year 4 $_______

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