Description
| Problem 1 |
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| 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. |
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| During 2012, the equipment produced 24,000 units and during 2013 the equipment produced 60,000 units. |
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| Calculate depreciation expense for 2012 and 2013 under each of the following methods. No Journal entries required. |
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| Depreciation Method | 2012 | 2013 | |||||
| Straight Line | |||||||
| Double Declining balance |
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| Units of production |
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