Mama's Fried Chicken bought equipment on January $2,2024,$ for $$39,000.$ The equipment was expected to remain in service for four years and to operate for $8,250$ hours. At the end of the equipment's useful life, Mama's estimates that its residual value will be $$6,000.$ The equipment operated for $825$ hours the first year, $2,475$ hours the second year, $3,300$ hours the third year, and $1,650$ hours the fourth year.

Read the requirements.

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

$\backslash$table$[[$Date$,\backslash$table$[[$Asset$],[$Cost$]],$Depreciation for the Year,$*],[\backslash$table$[[$Depreciable$],[$Cost$]],\backslash$table$[[$Useful$],[$Life$]],,\backslash$table$[[$Depreciation$],[$Expense$]],\backslash$table$[[$Accumulated$],[$Depreciation$]],\backslash$table$[[$Book$],[$Value$]]],[1-2-2024,39,000,,,,,,],[12-31-2024,,30,750,4$ years,$=,,,],[12-31-2025,,30,750,4$ years,$=,,,],[12-31-2026,,30,750,4$ years,$=,,,],[12-31-2027,,30,750,4$ years,$=,,,]]$

Mama's Fried Chicken bought equipment on January $2,2025,$ for $$30,000.$ The equipment was expected to remain in service for four years and to operate for $8,000$ hours. At the end of the equipment's useful life, Mama's Fried Chicken estimates that its residual value will be $$6,000.$ The equipment operated for $800$ hours the first year, $2,400$ hours the second year, $3,200$ hours the third year, and $1,600$ hours the fourth year.

Read the requirements.

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

$\backslash$table$[[$Date$,\backslash$table$[[$Asset$],[$Cost$]],$Depreciation for the Year,$\backslash$table$[[$Accumulated$],[$Depreciation$]],\backslash$table$[[$Book$],[$Value$]]],[\backslash$table$[[$Depreciable$],[$Cost$]],,\backslash$table$[[$Useful$],[$Life$]],,\backslash$table$[[$Depreciation$],[$Expense$]]],[1-2-2025$