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Calculate the amount of depreciation to report during the

Calculate the amount of depreciation to report during the year ended December 31 for equipment that was purchased at a cost of $ 43,000 on October 1. The equipment has an estimated residual value of $ 3,000 and an estimated useful life of five years or 20,000 hours. Assume the equipment was used for 1,000 hours from October 1 to December 31 and the company uses

(a) straight line,

(b) double declining balance, or

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Accounting Basics: Calculate the amount of depreciation to report during the

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Accounting Basics: Calculate the amount of depreciation to report during the

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