Question: 1. Prious uses the straight-line depreciation method On October 1, 2011, Prious Co. bought a equipment for $45,000. They estimate the equipment will have a $5,000 salvage value and an 5 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?
2. Fusion Co. uses the straight-line depreciation method On April 1, 2011, Fusion Co. bought a equipment for $24,000. They estimate the equipment will have a $4,000 salvage value and an 4 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?
3. Prious uses the double declining balance depreciation method On October 1, 2011, Prious Co. bought a equipment for $45,000. They estimate the equipment will have a $5,000 salvage value and an 5 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?
4. Fusion Co. uses the double declining balance depreciation method On April 1, 2011, Fusion Co. bought a equipment for $24,000. They estimate the equipment will have a $4,000 salvage value and an 4 year service life. What is the depreciation expense reported for this equipment on the December 31, 2011 income statement?