On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $66,800. The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $1,000. During year 2017, the band performs 45 concerts.
Compute the year 2017 depreciation using the units-of-production method.
-----------------------------------------------------------------------------------Compute the year 2017 depreciation using the units-of-production method.
4.
A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $900,000 with an estimated useful life of 10 years and an estimated salvage value of $81,000.
Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.)
Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.)
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