Answer Happy

128,000 hours and operated for a total of 18,000 hours in 2020 and 12,000 in in 2021. On January ed its estimates and now believes the laser mitre saw will have a total service life of an additiona al hours but the residual value will be only $2,000. Wilma's uses the units-of-production method assets. Wilma's Wicker Furniture has a December 31 year end and operated the saw for 20,000 h Following items (provide supporting calculations in the workspace below): 2020 Depreciable Amount: $ eciation Expense: S acation Expense: S 31, 2021 carrying value:

5 of PPE Depreciation Wilma's Wicker Furniture purchased a laser-guided mitre saw on January 1, 2020 at a cost of $20,000. Depreciation for 2020 and 2021 was based on an estimated 8-year useful life and $4,000 estimated residual value. The saw has an expected service life of 128,000 hours and operated for a total of 18,000 hours in 2020 and 12,000 in in 2021. On January 1, 2022, Wilma's revised its estimates and now believes the laser mitre saw will have a total service life of an additional three years or 135,000 total hours but the residual value will be only $2,000. Wilma's uses the units-of-production method to depreciate all assets. Wilma's Wicker Furniture has a December 31 year end and operated the saw for 20,000 hours in 2022. Required: Calculate the following items (provide supporting calculations in the workspace below): January 1, 2020 Depreciable Amount: $ 2020 Depreciation Expense: $ 2021 Depreciation Expense: $ December 31, 2021 carrying value: January 1, 2022 Depreciable Amount: $ 2022 Depreciation Expense: $