Cracking Fried Chicken bought equipment on January 2, 2024, for $21,000. The equipment was expeded to remain in service for four years and to operate for 3,600 hours. At the end the equipment's useful life. Cracking estimates that als residual value will be $3,000 The equipment operated for 360 hours the first year, 1,080 hours the second year 1,440 hours the third year, and 720 hours the fourth year Read the requirements 12-31-2025 1.080 5,400 7,200 13,800 12-31-2026 1,440 7.200 14,400 5,600 12-31-2027 720 3,600 18.000 3,000 Prepare a depreciation schedule using the double declining balance (DDB) method (Enter a "V" for any tems with a zero value) Double Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Book Date Cost Value Rate Expense Depreciation Value 1-2-2024 21000 12-31-2024 10500 12-31-2025 12-31-2020 2250 12-31-2027 5250 5 x 1,080 = 5,400 7,200 13,800 i Requirements the dou tion Scl De 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? ok ue 310500 Print Done 5250 2250 umber in the input fields and then click Check Answer. Clear All