Delicious Fried Chicken bought equipment on January 2, 2024, for $15,000. The equipment was expected to remain in service for four years and to operate for 4,000 hours. At the end of the equipment's useful life, Delicious estimates that its residual value will be $3,000. The equipment operated for 400 hours the first year, 1,200 hours the second year, 1,600 hours the third year, and 800 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 Date 1-2- 2024 12-31- 2024 12-31- 2025 12-31- 2026 12-31- 2027 Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Cost Cost Life II Book Expense Depreciation Value

Delicious Fried Chicken bought equipment on January 2, 2024, for $15,000. The equipment was expected to remain in service for four years and to operate for 4,000 hours. At the end of the equipment's useful life, Delicious estimates that its residual value will be $3,000. The equipment operated for 400 hours the first year, 1,200 hours the second year, 1,600 hours the third year, and 800 hours the fourth year. Read the 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