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Depreciation by Three Methods; Partial Years Razar Sharp Company purchased equipment on July 1, 2014, for...

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Accounting

Depreciation by Three Methods; Partial Years Razar Sharp Companypurchased equipment on July 1, 2014, for $70,200. The equipment wasexpected to have a useful life of three years, or 6,480 operatinghours, and a residual value of $2,160. The equipment was used for1,200 hours during 2014, 2,300 hours in 2015, 1,900 hours in 2016,and 1,080 hours in 2017.

Required: Determine the amount of depreciation expense for theyears ended December 31, 2014, 2015, 2016, and 2017, by (a) thestraight-line method, (b) units-of-output method, and (c) thedouble-declining-balance method.

Note: FOR DECLINING BALANCE ONLY, round the multiplier to fourdecimal places. Then round the answer for each year to the nearestwhole dollar.

a. Straight-line method Year Amount 2014 $ 2015 $ 2016 $ 2017$

b. Units-of-output method Year Amount 2014 $ 2015 $ 2016 $ 2017$

c. Double-declining-balance method Year Amount 2014 $ 2015 $2016 $ 2017 $

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