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Diamond Autobody purchased new equipment for $90,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. During
Diamond Autobody purchased new equipment for $90,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. During the four-year period, the company expects to use the equipment a total of 5,000 hours. Actual use per year was as follows: Year Hours Used 1,200 1,400 1,500 1,100 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. 2. Prepare a depreciation schedule for four years using the double-declining-balance method. 3. Prepare a depreciation schedule for four years using the activity-based method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.) Year DIAMOND AUTOBODY Depreciation Schedule-Straight-Line End of Year Amounts Depreciation Accumulated Book Value
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