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Porter Business Products_Depreciation Methods

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Problem 1
Porter Business Products acquired equipment on January 1, 2012 for $470,000. The equipment has an estimated useful life of 5 years and an estimated residual value of $30,000. The equipment is expected to produce 150,000 units.
During 2012, the equipment produced 24,000 units and during 2013 the equipment produced 60,000 units.
Calculate depreciation expense for 2012 and 2013 under each of the following methods. No Journal entries required.
Depreciation Method20122013
Straight Line
Double Declining balance
Units of production

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