912

Requirements 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely? Mama's Fried Chicken bought equipment on January 2,2024 , for $36,000. The equipment was expected to remain in service for four years and to operate for 10,000 hours. At the end of the equipment's useful life, Mama's estimates that its residual value will be $6,000. The equipment operated for 1,000 hours the first year, 3,000 hours the second year, 4,000 hours the third year, and 2,000 hours the fourth year. Read the requirements. Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared. Begin by preparing a depreciation schedule using the straight-line method