Mama's Fried Chicken bought equipment on January 2, 2018, for $42.000. The equipment was expected to remain in service for four years and to operate for 7,200 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 720 hours the first year, 2.160 hours the second year, 2.880 hours the third year, and 1.440 hours the fourth year Read the requirements Requirement 1. Prepare a schedule of depreciation expense accumulated depreciation, and book valve 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 Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Expense Depreciation Value 1-2-2018 0 Requirements 12-31-2018 12-31-2019 12-31-2020 1. Prepare a schedule of depreciation expense accumulated depreciation, and 12-31-2021 book value per year for the equipment under the three depreciation methods straight-line, units of production, and double-declining balance. Show your Before calculating the units of product computations. Note: The depreciation schedules must be prepared enter the amounts and calculate the depreciation expense per unit 2. Which method tracks the wear and tear on the equipment most closely? Print Done Prepare a depreciation schedule using the Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Date Cost Per Unit Units Expense Depreciation 1-2-2018 Book Value Mama's Fried Chicken bought equipment on January 2 2018 for $42.000. The equipment was expected to remain in service for four years and to operate for 7 200 hours At the end of the equipments useful life Mama's estimates that its residual value will be $5,000. The equipment operated for 720 hours the first year 2.160 hours the second year, 2.880 hours the third year, and 1440 hours the fourth year Read the requirements Requirement 1. Prepare a schedule of depreciabon expense, accumulated depreciation, and book valve 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 Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Expense Depreciation Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Before calculating the units of production depreciation schedule, calculate the depreciation expense per unit Select the formula then enter the amounts and calculate the depreciation expense per unit - Depreciation per unit Prepare a depreciation schedule using the units of production method Units of Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Date Cost Per Unit Units Expense 1-2-2018 Accumulated Depreciation Value Choose from any list or enter any number in the input fields and then continue to the next question Mama's Fried Chicken bought equipment on January 2 2018 for $42.000 The equipment was expected to remain in service for four years and to operate for 7 200 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 720 hours the first year 2,160 hours the second year 2,880 hours the third year, and 1,440 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 Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Date Cost Cost Lite Expense Depreciation Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Before calculating the units of production depreciation schedule, calculate the depreciation expense per unit. Select the formula then enter the amounts and calculate the depreciation expense per unit = Depreciation per unit Accumulated depreciation pre con Un Residual value Useful life in units Useful life in years ing the units of production method Schedule Depreciation for the Year Depreciation Number of Depreciation Per Unit Units Expense Accumulated Depreciation Book Value Date Cost 1-2-2018 ... in the input fields and then continue to the next question Mama's Fried Chicken bought equipment on January 2, 2018, for $42,000 The equipment was expected to remain in service for four years and to operate for 7 200 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 720 hours the first year 2,160 hours the second year 2.500 hours the third year, and 1.440 hours the fourth year Read the requirements Book Value Prepare a depreciation schedule using the units-of-production method Units of Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Date Cost Per Unit Units Expense Depreciation 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Prepare a depreciation schedule using the double declining-balance (DDB) method (Enter a "o" for any items with a zero value) Double Declining Balance Depreciation Schedule Depreciation for the Year Asset Book DOB Depreciation Accumulated Book Date Cost Value Expense Depreciation Value 1-2-2018 12-31-2018 double-declining-balance straight line units-of-production Regi he wear and tear on the equipment most closely? method tracks wear and tear most closely her in the innut fields and then continue to the next question Mama's Fried Chicken bought equipment on January 2, 2018, for $42,000. The equipment was expected to remain in service for four years and to operate for 720 At the end of the equipment's useful life, Mama's estimates that its residual value will be $6,000. The equipment operated for 720 hours the first year, 2.160 hours second year 2,880 hours the third year, and 1.440 hours the fourth year Read the requirements Prepare a depreciation schedule using the units-of-production method Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Date Cost Per Unit Units Expense 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Accumulated Depreciation Book Value Prepare a depreciation schedule using the double-declining balance (DDB) method (Enter a "O" for any items with a zero value) Accumulated Depreciation Book Value Rate Double Declining Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Date Cost Value Expense 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Requirement 2. Which method tracks the wear and tear on the equipment most closely? The method tracks wear and tear most closely