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Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1...

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Accounting

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Depreciation by three methods; partial years Layton Company purchased tool sharpening equipment on October 1 for $57,780. The equipment was expected to have a useful life of 3 years or 4,320 operating hours, and a residual value of \$1,620. The equipment was used for 300 hours during Year 1, 1,500 hours in year 2, 1,300 hours in Year 3, and 720 hours in Year 4. Required: Detarmine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, rear 3, and rear 4, by (a) the straight-line method, (b) the units-ofoctivity method, and (c) the double-declining-balance method. Note: FOR DECUINING 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 b. Units-of-activity method c. Double-declining-balence method 2 more Check My Work uses remaining c. Double-declining-balance method

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