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help please University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates
help please University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 2,800 1,900 2,000 2,000 1,800 1,500 Problem 7-5A Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Straight-Line End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year Total University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year Hours Used 2,800 1,900 2,000 2.000 1,800 1,500 Problem 7-5A Part 2 2. Prepare a depreciation schedule for six years using the double-declining balance method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Year Depreciation Accumulated Book Value Expense Depreciation Total UWN- Hours Used 2,800 1,900 2,000 2,000 1,800 1,500 Problem 7-5A Part 3 3. Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation places and use this amount in all subsequent calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Activity-Based End of year amounts Depreciation " Accumulated Expense Depreciation Book Value Year 1 TTTTT 0 ET 5 Total
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