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

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Accounting

Depreciation by three methods; partial years
Layton Company purchased tool sharpening equipment on October 1 for $71,010. The equipment was expected to have a useful life of 3 years or 8,100 operating hours, and a residual value of $2,160. The equipment was used for 1,500 hours during Year 1,2,800 hours in Year 2,2,400 hours in Year 3, and 1,400 hours in Year 4.

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