Solved: What will be depreciation expense for the year ended, Accounting Basics

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What will be depreciation expense for the year ended

On January 1, 2010, CUNY Corporation acquired equipment for $260,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $20,000. If CUNY Corporation uses the units-of-production method of depreciation, what will be Depreciation Expense for the year ended December 31, 2011, assuming that during this period the asset was used for 8,250 hours?

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Accounting Basics: What will be depreciation expense for the year ended

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