70.2K

Verified Solution

Link Copied!

On January 3, 2020. Xenex Innovations purchased computer equipment for $162,000. The equipment will be used in research and development activities for five years or a total of 10,000 hours and then sold for about $32000. Assume actual usage in hours of 2020 2,250 2021 1,960 2022 4,200 2023 3,160 2024 4,500 Required: Calculate depreciation expense and book values for each year of the equipment's life for each method of depreciation using the table provided below. Xenex's year-end is December 31. (Do not round intermediate calculations.) Straight Line Double Declining-Balance Units-of-Production Depreciation Book Value at Depreciation Book Value at Depreciation Book Value at Expense December 31 Expense December 31 Expense December 31 2020 2021 2022 2023 2024 Year On January 3, 2020. Xenex Innovations purchased computer equipment for $162,000. The equipment will be used in research and development activities for five years or a total of 10,000 hours and then sold for about $32000. Assume actual usage in hours of 2020 2,250 2021 1,960 2022 4,200 2023 3,160 2024 4,500 Required: Calculate depreciation expense and book values for each year of the equipment's life for each method of depreciation using the table provided below. Xenex's year-end is December 31. (Do not round intermediate calculations.) Straight Line Double Declining-Balance Units-of-Production Depreciation Book Value at Depreciation Book Value at Depreciation Book Value at Expense December 31 Expense December 31 Expense December 31 2020 2021 2022 2023 2024 Year

Answer & Explanation Solved by verified expert

See Answer