(Depreciation
for Partial Periods–SL, Act., SYD, and Declining-Balance)
The cost of
equipment purchased by Charleston, Inc., on June 1, 2014, is $89,000. It is
estimated that the machine will have a $5,000 salvage value at the end of its
service life. Its service life is estimated at 7 years, its total working hours
are estimated at 42,000, and its total production is estimated at 525,000
units. During 2014, the machine was operated 6,000 hours and produced 55,000
units. During 2015, the machine was operated 5,500 hours and produced 48,000
units.
Instructions
Compute
depreciation expense on the machine for the year ending December 31, 2014, and
the year ending December 31, 2015, using the following methods.
(a)Straight-line.
b)Units-of-output.
(c)Working
hours.
(d)Sum-of-the-years’-digits.
(e)Declining-balance
(twice the straight-line rate).
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