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Perdue Company purchased equipment on April 1 for $38880 The equipment was expected to have a useful life of three years or 7560 operating hours and a residual value of $1080 The equipment was

Perdue Company purchased equipment on April 1 for $38,880. The equipment was expected to have a useful life of three years, or 7,560 operating hours, and a residual value of $1,080. The equipment was used for 1,400 hours during Year 1, 2,600 hours in Year 2, 2,300 hours in Year 3, and 1,260 hours in Year 4.

Required:

Determine the amount of depreciation expense for the years ended December 31, Year 1, Year 2, Year 3, and Year 4, by (a) the straight-line method, (b) units-of-activity method, and (c) the double-declining-balance method.

Perdue Company purchased equipment on April 1 for $38,880. The equipment was expected to have a useful life of three years, or 7,560 operating hours, and a residual value of $1,080. The equipment was

May 23 2020 View more View Less

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