%E9-20 (similar to) Question Help Seconda Fried Chicken bought supert on January 2 2018. tor 518,000 The coupment was expected to remain in service ter four years and to enter 3,750 hours Ad the end of the Seconda estimates that residus value wil be $3.000 The equipment operated for 375 hours the first year, 1,125 hours the second year 1.500 hours the third year, and 750 hours the fourth year Head the 12-01-2018 15,000 1250 3.750 14.250 12:31 2019 15.000 2.750 7.500 10.00 201 2020 16.000 years 3.750 1,950 670 12:31 2021 15.000 years 2.750 15,000 3.000 Bureating the units of production depreciation schedule, colte the depreciation were per unit. Select the formula then enter the amounts and the depreciation arpone per unit Cost Restul value Use Depreciation peut 18.000 3.000 3,750 Prepom a depreciation scheduling the inho-prouction method Unta-ol Production Drition Bichedule Depreciation for the Your A Depreciation Number Depreciation Arema 1. Prepared of historyction and Oute Cost Unite Expense Depreciation Vale bool volum per year for the counter the tree depreciation mode strgreint unmoreduction, and double dedning bounce Show your 1.2.2010 computation Note: The depreciation schedules must be prepared -11-2011 2 Which method tracks the wearer on the most closely? 12-01-2011 11-2020 Done 1.00 Er won the cold and then click Check port ouring Clear Check Ang Seconds Fried Chicken bought equipment on January 2, 2018, for $18,000. The equipment was expected to remain in service for four years and to operate for 3,750 hours. At the end of the equipment's useful lito, Seconds estimates that its residual value will be $3,000. The equipment operated for 375 hours the first year, 1,125 hours the second year, 1,500 hours the third year, and 750 hours the fourth year. Read the requirements. Requirement 1. Prepare a schedule of depreciation expense, accumulated dopreciation, and book valvo per year for the equipment under the three depreciation methods: straight-ine, units-of-production, and double-declining balance. Show your computations. Note: Threo 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 Value 1-2-2018 $ 18.000 $ 18.000 12-31-2018 15,000 4 years $ 3,750 $ 3,750 14,250 12-31-2019 15,000 - 4 years 3,750 7.500 10,500 12-31-2020 15,000 - 3,750 11.250 6.750 1231-2021 15,000 4 years 3,750 15,000 Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and Enter any number in the edit fields and then click Check Answer $ 4 years 3,000 2 Pemaining parts Clear All Check Answer 1. Murphy 65 Online 10 Week (590) is based on Nobles. Horngren's Financial & Managerial Accounting, Financial Chapters, 6e Seconds Fried Chicken bought equipment on January 2, 2018, for $18,000. The equipment was expected to remain in service for four years and to operate for 3,750 hours. Al the end of the equipment's useful ife, Seconds estimates that its residual value will be $3,000. The equipment operated for 375 hours the first year, 1,125 hours the second year, 1,500 hours the third year, and 750 hours the fourth year. Read the requirements calculate the depreciation expense per unit Cost Residual value Useful life in units Depreciation per unit 18,000 3,000 3.750 Prepare a depreciation schedule using the units-of-production method. Unlts-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Book Cost Per Unit Expense Depreciation 1-2-2018 12-31-2018 12-31-2019 Date Units Value 12-31-2020 12-31-2021 Enter any number in the edit fields and then click Check Answer 2 parts remaining Clear All Check Answer Seconds Fried Chicken bought equipment on January 2, 2018, for $18,000. The equipment was expected to remain in service for four years and to operate for 3,750 hours. Al the end of the equipment's useful life, Seconds estimates that its residual value will be $3,000. The equipment operated for 375 hours the first year, 1.125 hours the second year, 1,500 hours the third year , and 750 hours the fourth year. Road 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 Depreciable Useful Depreciation Accumulated Book Date Cost Cost Expense Depreciation Value 1-2-2018 $ 18,000 $ 18.000 12-31-2018 $ 15,000 - 4 years 5 3.750 $ 3.750 14,250 12-31-2019 15.000 3,750 7,500 10,500 1231-2020 15,000 4 years 3,750 11,250 6.750 12-31 2021 15,000 3,750 15,000 3,000 Asset Life 4 years 4 years Before calculating the units-of-production depreciation schedule, calculate the depreciation expenso per unit. Select the formula, then enter the amounts and Enter any number in the edit fields and then click Check Answer 2 parts remaining Clear All Check Answer 7. Murphy 65 Online 10 Week (59013s based on Nobles: Horngren's Financial Managerial Accounting Financial Chapters, be Policy Copyright 2021 Pearson Education Inc. All Rights Reserved calculate the depreciation expense per Depreciation per unit Cost Residual value Useful life in units ( $ 18,000 $ 3,000 1 + 3,750 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 12-31-2018 Book Value 0 12-31-2019 12-31-2020 12-31-2021