Calculate the amount of depreciation to report during the year ended december 31 for equipment that was purchased at a cost of $56,000 on october 1. the equipment has an estimated residual value of $2,000 and an estimated useful life of five years or 20,000 hours. assume the equipment was used for 1,000 hours from october 1 to december 31 and the company uses (a) straight-line, (b) double-declining-balance, or (c) units-of-production depreciation. (do not round intermediate calculations.)

Instructions are listed below.

Explanation:

Giving the following information:

Purchased at a cost of $56,000 on October 1. The equipment has an estimated residual value of $2,000 and an estimated useful life of five years or 20,000 hours. Assume the equipment was used for 1,000 hours from October 1 to December 31

A) Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (56,000 - 2,000)/5= 10,800

Year 1= 10,800/12*3= $2,700

B) Annual depreciation= 2*[(original cost - residual value)/estimated life (years)]

Annual depreciation=  21,600

Year 1= 21,600/12*3= 5,400

C) Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Year 1= (54,000/20,000)*1000= $2,700

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.