Delicious Fried Chicken bought equipment on January 2, 2018, for $18,000. The equipment was expected to remain in service for four years and to operate for 5,000 hours. At the end of the equipment's useful life, Delicious estimates that its residual value will be $3,000. The equipment operated for 500 hours the first year, 1,500 hours the second year, 2,000 hours the third year, and 1,000 hours the fourth year. Road the requirements Life Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, ard book valse 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 Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Expense Depreciation Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Before calculating the units of production depreciation schedule, calculate the depreciation expense per unit Select the formula, then enter the amounts and calculate the depreciation expense per unit henreininni 0 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? Print Done Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit Depreciation per unit ) Book Value Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Date Cost Per Unit Units Expense Depreciation 1-2-2018 12:31 2018 12-31-2010 42-31 2020 12-31-2021 Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "o" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Depreciation for the Year Depreciation Accumulated Book Expense Depreciation Asset Book DDB Rate Date Cost Value Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Requirement 2. Which method tracks the wear and tear on the equipment most closely? The method tracks wear and tear most closely
