Golden Fried Chicken bought equipment on January 2, 2024, 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, Golden 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 equirements 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 0007 Depreciation for the Year Useful Life Asset Depreciable Cost Cost 21,000 + + 4 years 4 years 4 years 4 years = = = Depreciation Accumulated Expense Depreciation Book Value 21,000 HERMANIAN BAUMEROSIHARMON

year: Reast the Begin by preparing a deprecation schedse using the straigh tire method. Golden Fined Chicken bought equgrient on January 2,2024, 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 equipmenrs year Reod the ine, untsol-frodution, and double-declining-balance. Show your camputations. Note. Three depreciation schedules must be propared Alegin by preparing a depreciation schedulo usng the straghi-ine method