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 1^st, 2021. On April 1^st, they purchased two trucks and a forklift the following transactions explain these:

1. Paid $30,000 for a Ford truck retrofitted with water delivery supplies.
2. Paid $40,000 for a Dodge truck retrofitted with water delivery supplies.
3. Paid $10,000 for a Forklift to load the trucks.

Requirements:

1. Complete depreciation schedules for the first five years for the assets according to the excel table below:
   1. Ford Truck, Straight-Line Depreciation, 15 Years, $4,000 residual value.
   2. Dodge Truck, Straight-Line Depreciation, 15 Years, $6,000 residual value.
   3. 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.

Straight-Line Depreciation Schedule Depreciation for the Year Depreciable Cost Depreciation Rate Depreciation Expense Accumulated Depreciation Book Value $ Date Asset Cost 4/1/2021 4/1/2022 4/1/2023 4/1/2024 4/1/2025 4/1/2026 $ $ $ $ $ $ $ Ford Truck Dodge Truck Forklift +