Montana corporation acquired equipment for 475000 at the, Ask an Expert

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Montana Corporation acquired equipment for $475,000 at the beginning of the fiscal year, with an estimated useful life of four years or 21,500 operating hours, and a residual value of $45,000. The equipment was used for 7,600 hours in 2009, 6,800 hours in 2010, 5,100 hours in 2011 and 2,000 hours in 2012.

Instructions:

Determine the annual depreciation expense for each of the estimated five years of use, using the a) straight-line-method b) units of production and c) the double-declining-balance method.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9951708

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