Crackling Fried Chicken bought equipment on January $2,2016,$ for $$21,000.$ The equipment was expected to remain in service for four years and to perform $3,600$ fry jobs. At the end of the equipment's useful life, Crackling estimates that its residual value will be $$3,000.$ The equipment performed $360$ jobs the first year, $1,080$ the second year, $1,440$ the third year, and $720$ the fourth year.

Requirements

Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods. Show your computations. Note: Three depreciation schedules must be prepared.

Which method tracks the wear and tear on the equipment most closely?

Requirement $1.$ Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods. Show your computations. Note: Three depreciation schedules must be prepared.

Begin by preparing a depreciation schedule using the straight$-$line method.

Straight$-$Line Depreciation Schedule

$\backslash$table$[[$Date$,\backslash$table$[[$Asset$],[$Cost$]],$Depreciation for the Year,$\backslash$table$[[$Accumulated$],[$Depreciation$]],\backslash$table$[[$Book$],[$Value$]]],[\backslash$table$[[$Depreciable$],[$Cost$]],,\backslash$table$[[$Depreciation$],[$Rate$]],,\backslash$table$[[$Depreciation$],[$Expense$]]],[1-2-2016$