I need help with the last part, please I do not know where the answers came from from the last part!
thanks
Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1 2 3 4 Hours Used 2,500 2,200 1,900 2,000 Problem 7-5B Part 1 Required: . Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.) Answer is complete and correct. Year CHEETAH COPY Depreciation ScheduleStraight-Line End of Year Amounts Depreciation Accumulated Book Expense Depreciation Value $ 22,500 $ 22,500 $ 97,500 22,500 45,000 75,000 22,500 67,500 52,500 22,500 90,000 30,000 $ 90,000 1 2 3 4 Total Required information Problem 7-5B Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.) Cheetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1 2 3 4 Hours Used 2,500 2,200 1,900 2,000 Problem 7-5B Part 2 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your intermediate calculations.) Answer is complete and correct. CHEETAH COPY Depreciation Schedule-Double-Declining-Balance End of Year Amounts Depreciation Year Accumulated Book Value Expense Depreciation 1 $ 60,000 $ 60,000 $ 60,000 2 30,000 90,000 30,000 3 0 90,000 30,000 4 0 90,000 30,000 Total $ 90,000 | Required information Problem 7-5B Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year 1 2 3 4 Hours Used 2,500 2,200 1,900 2,000 Problem 7-5B Part 3 3. Prepare a depreciation schedule for four years using the activity-based method. (Round your "Depreciation Rate" to 3 decimal places and use this amount in all subsequent calculations.) Answer is not complete. CHEETAH COPY Depreciation Schedule Activity-Based End of Year Amounts Depreciation Accumulated Book Value Expense Depreciation $ 22,511 X Year 1 2 3 4 30,000 Total $ 22,511
