Response to the following problem:
Janz Corporation purchased a piece of machinery on January 1, 2015. The company's year-end is December 31. The following information is applicable:
Cost $90,000
Useful life 9,000 units
Residual value -0-
Depreciation method Usage
Output during 2016 and 2017 was 2,000 and 3,000 units, respectively.
Required:
1. Calculate the depreciation expense for 2016 and 2017.
2. What is the balance of accumulated depreciation at the end of 2017?
3. What is the carrying amount of the machinery shown on the balance sheet at the end of 2017?
4. Prepare a partial comparative balance sheet for Janz Corporation at the end of 2017.