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Bob's restaurant purchased a new grill at a cost of $6,000. The expected life of the grill is 5000 hours of production, at which time
Bob's restaurant purchased a new grill at a cost of $6,000. The expected life of the grill is 5000 hours of production, at which time it will have a salvage value of $600. Using the units-of-production method, prepare a depreciation schedule given the following production: year 1: 1000 hours; year 2: 1250 hours; year 3: 1000 hours; year 4: 1750 hours.
Complete the schedule.
Year | Amount of Depreciation | Accumulated Deprecation | Book Value |
0 | $6,000 | ||
1 | __? | __? | __? |
2 | __? | __? | __? |
3 | __? | __? | __? |
4 | __? | __? | __? |
Round to the nearest dollar as needed.
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