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3 years ago

On June 1, 2021, Duncan Inc. purchased equipment for $74,000. The equipment

Business

1 answer:

valentina_108 [34]3 years ago

6 0

Answer:

The amount of accumulated depreciation on the equipment shown in

the company's December 31, 2022 balance sheet is $16,500.

Explanation:

<em>Depreciation Expense (Units of Production) = (Cost - Residual Value) × (Period`s Production / Total Estimated Production)</em>

2021.

Depreciation Expense = ($74,000 - $8,000) × ( 11,000 units / 120,000 units )

= $6,050

2022

Depreciation Expense = ($74,000 - $8,000) × ( 19,000 units / 120,000 units )

= $10,450

Accumulated Depreciation - December 31, 2022

2021 = $6,050

2022 = $10,450

Total = $16,500

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