Required information The following information applies to the questions displaye

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Required information The following information applies to the questions displayed below Exact Photo Service purchased a new color printer at the beginning of 2018 for $42,300. The printer is expected to have a four-year useful life and a $1,692 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: 2018 2019 2020 2021 553,800 480,800 381,400 393 100 1,809,100 Total The printer was sold at the end of 2021 for $1,942

Explanation / Answer

Double-declining depreciation rate=1/4*2 = 50% Double-declining 2018 21150 =42300*50% 2019 10575 =(42300-21150)*50% 2020 5288 =(42300-21150-10575)*50% 2021 3595

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