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. Deicious estimates that its residual value will be $3,000. The equipment operated for 300 hours the first year, 300 hours the second year, 1,200 hours the third year, and 600 hours the fourth year. Read the farmers 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 Book Date Cost Cost Life Expense Depreciation 1-2-2018 $ 15,000 $ 15.000 12-31-2018 $ 12,000 4 years 3,000 $ 3,000 12.000 12-31-2019 12,000 + 3,000 6,000 9.000 12-31-2020 12,000 - 4 years 3,000 9,000 B.000 12-31-2021 12,000 + 3,000 12,000 3 000 Value 4 years 4 years 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 un 15,000 3.000 ) + 3,000 $ 4 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 $ 15,000 12-31-2018 300 = $ 1,200 $ 1,200 12-31-2019 3,600 4,800 12-31-2020 4 X 4 1.200 - 4,800 9,600 12-31-2021 2,400 12,000 $ Book Value 15,000 13 800 10.200 900 - 5,400 600 - 3,000 Prepare a depreciation schedule using the double-dedining-balance (DDB) method. (Enter a "o" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Book Date Cost Value Rats Expense Depreciation Value 1-2-2018 | i Requirements 1231-2018 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? 12-31-2019 12-31-2020 12-31-2021 Print Done Choose from any list or enter any number in the input fields and then click Check