Jack and Jills Water Delivery Service is preparing adjusting entries for the month end of April 2021. As part of this, they need you to complete depreciation schedules for the first five years for three assets they purchased April 1st, 2021.

On April 1st, they purchased two trucks and a forklift the following transactions explain these: Paid $30,000 for a Ford truck retrofitted with water delivery supplies. Paid $40,000 for a Dodge truck retrofitted with water delivery supplies. Paid $10,000 for a Forklift to load the trucks.

Requirements: Complete depreciation schedules for the first five years for the assets: Ford Truck, Straight-Line Depreciation, 15 Years, $4,000 residual value. Dodge Truck, Straight-Line Depreciation, 15 Years, $6,000 residual value. Forklift, Units of Production Depreciation, 10,000 Hours Useful Life, $1,000 residual value. For year one, it is used for 2,000 hours, as training is involved. For each year after, it is used for 1,000/year.