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Suppose FastShip purchased equipment on January 1,2021, for $74,000. The expected useful life of the...

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Accounting

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Suppose FastShip purchased equipment on January 1,2021, for $74,000. The expected useful life of the oquipmont is 10 years or 350,000 units of production, and its residual value is $4, 000. Under three depreciation methods, the annual depreciation expense and the balance of accumulated depreciation at the end of 202 I and 2022 are (Click the icon to view the data.) Read the requirements Requirement 1. Idenbiy the depreciation method used in each instance, and show the equation and computation for each; round to the nearest dollar: Begin by identifying the depreciation method used in each instance. Requirement 2. Determine the annual depreciation expense, accumulated depreciasion, and book value of the equipment for 2021 through 2023 under sach method, assuming 9,000 units of production in 2023. Begin with Method A. Now, complete the table for Method C. Data table Requirements 1. Identify the depreciation method used in each instance, and show the equation and computation for each; round to the nearest dollar. 2. Determine the annual depreciation expense, accumulated depreciation, and book value of the equipment for 2021 through 2023 under each method, assuming 9,000 units of production in 2023

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