Equipment purchased at the beginning of the fiscal year for $720,000 is expected to have...
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Accounting
Equipment purchased at the beginning of the fiscal year for $720,000 is expected to have a useful life of 10 years, or 28,000 operating hours, and a residual value of $10,000. Compute the depreciation for the first and second years of use by each of the following methods: (12 points)
| (a) | straight-line |
| (b) | units-of-production (2,200 hours first year; 5,000 hours second year) |
| (c) | double declining balance |
(Round the answer to the nearest dollar.)
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