On April 22, 2020, Cullumber Enterprises purchased equipment for $130,300. The company expects to use...
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On April 22, 2020, Cullumber Enterprises purchased equipment for $130,300. The company expects to use the equipment for 11.500 working hours during its 4-year life and that it will have a residual value of $13,000. Cullumber has a December 31 year end and pro rates depreciation to the nearest month. The actual machine usage was: 1,500 hours in 2020; 2,500 hours in 2021:4,000 hours in 2022; 2,600 hours in 2023; and 1,100 hours in 2024. Calculate depreciation expense for the life of the asset under straight-line method (Round answers to 0 decimal places, eg. 5,276.) Depreciation Expense 2020 $ 2021 2022 $ 2023 $ 2024 $
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