Delicious Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to remain in service for four years and to operate for 3,000 hours. At the end of the equipment's useful life, Delicious estimates that its residual value will be $3,000. The equipment operated for 300 hours the first year, 900 hours the second year, 1,200 hours the third year, and 600 hours the fourth year. Read the requirements. Requirement 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. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Date Cost Cost Life Expense Depreciation 1-2-2018 $ 15,000 Book Value $ 15,000 12-31-2018 $ 12,000 + 4 years = $ 3,000 $ 3,000 12,000 12-31-2019 12,000 + 4 years 3,000 6,000 9,000 12-31-2020 4 years = 3,000 9,000 12,000 + 12,000+ 6,000 3,000 12-31-2021 4 years = 3,000 12,000 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. Cost Residual value Useful life in units Depreciation per unit ) + ) $ 15,000 3,000 3,000 Prepare a depreciation schedule using the units of production method. Requirements Units-of-Productie. Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Date Cost Per Unit Units Expense 1-2-2018 15,000 Accumulated Book Depreciation Value 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? 12-31-2018 4 x 1000 = 40001 12-31-2019 3000 1200 4 Print Done 12-31-2020 12-31-2021 4000 2000 = 1600 8000 41 x