CHAPTER 9.2 - EXERCISES 3. Exercise 9.6 ANSWER KEY STUDENT RESPONSES KC JG Question 3 of 3 < > On April 22, 2023, Cullumber Enterprises purchased equipment for $130,300. The company expects to use the equipment for 11,500 working hours during its four-year life and that it will have a residual value of $13,000. Cullumber has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,500 hours in 2023; 2,500 hours in 2024; 4,000 hours in 2025; 2,600 hours in 2026; and 1,100 hours in 2027. View Policies (a1) Prepare a depreciation schedule for the life of the asset under the straight-line method. (Round partial-period depreciation rate to 4 decimal palces, eg. 15.2563% and other answers to O decimal places, e.g. 5,276.) Year 2023 SA $ Depreciable Amount 117,300 117,300 X Depr. Rate 16.6667 do % = Depr. Expense 25 25 % $ SA 19,550 29,325 tA Accum. Depr. End of Year 19,550 48.875 2025 117,300 25 % 29,325 78,200 2024 gin 2026 117,300 Q Search 25 25 % 29,325 107,525 T S