Typewritten answers only, please. No handwritten answers. Exact Photo Service pu

Question

Typewritten answers only, please. No handwritten answers.

Exact Photo Service purchased a new color printer at the beginning of 2018 for $42,800. The printer is expected to have a four-year useful life and a $1,712 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows:

The printer was sold at the end of 2021 for $2,112.

Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods. (Amounts to be deducted should be indicated with minus sign.)

Typewritten answers only, please. No handwritten answers.

2018 545,300 2019 479,400 2020 383,200 2021 385,600 Total 1,793,500

Explanation / Answer

Calculate the amount of gain or loss from the sale of the asset under each of the depreciation methods.

Assets useful life is four year and assets is sold after four year so in these four year assets cost will be depreciated and when assets sold after four year Sale value is gain on sale of assets

Depreciation methods Amount Effect Double-Declining Balance $2112 Gain Units-of-Production $2112 Gain

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