E9-20 (similar to) Question Help Delicious Fried Chicken bought equipment on January 2, 2018, for $21,000. The equipment was expected to remain in service for four years and to operate for 3,600 hours. At the end of the equipment's useful life, Delicious estimates that its residual value will be $3,000. The equipment operated for 360 hours the first year, 1,080 hours the second year, 1,440 hours the third year, and 720 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. X Requirements Book Value 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 12-31-2018 12-31-2019 12-31-2020 12-31-2021 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