Depreciation by Three Methods; Partial Years
Razar Sharp Company purchased equipment on July 1, 2014, for $58,320. The equipment was expected to have a useful life of three years, or 7,560 operating hours, and a residual value of $1,620. The equipment was used for 1,400 hours during 2014, 2,600 hours in 2015, 2,300 hours in 2016, and 1,260 hours in 2017.
Required:
Determine the amount of depreciation expense for the years ended December 31, 2014, 2015, 2016, and 2017, by (a) the straight-line method, (b) units-of-output method, and (c) the double-declining-balance method.
Note: FOR DECLINING BALANCE ONLY, round the multiplier to four decimal places. Then round the answer for each year to the nearest whole dollar.
- Straight-line method
| Year | Amount |
| 2014 | $ |
| 2015 | $ |
| 2016 | $ |
| 2017 | $ |
- Units-of-output method
| Year | Amount |
| 2014 | $ |
| 2015 | $ |
| 2016 | $ |
| 2017 | $ |
- Double-declining-balance method
| Year | Amount |
| 2014 | $ |
| 2015 | $ |
| 2016 | $ |
| 2017 | $ |
