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Need help with Part 2 and 3. Part 1 I have completed and the answers are correct. Part 1 Answers: Problem 7.5A Part 1 Required:
Need help with Part 2 and 3. Part 1 I have completed and the answers are correct.
Part 1 Answers: Problem 7.5A Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. Year 1 2 3 4 UNIVERSITY CAR WASH Depreciation Schedule-Straight-Line End of year amounts Depreciation Accumulated Book Value Expense Depreciation $ 32.250 $ 32.250 $ 180.750 3 32.250 2.250 64,500 64,5007 1 48,500 3 2.250 9.750 116.250 32.250 129,000 84.000 32.250 161.250 51.750 32.250 193,500 19.500 $ 193.500 5 6 Total Question: Required information Problem 7-5A Determine depreciation under three methods (LO7.4) (The following information applies to the questions displayed below.] University Car Wash built a deluxe car wash across the street from campus. The new machines cost $213.000 Including Installation. The company estimates that the equipment will have a residual value of $19.500. University Car Wash also estimates It will use the machine for six years or about 12.500 total hours. Actual use per year was as follows: Hours Used 3.000 1,200 1.300 2,700 2. See 1,880 'roblem 7-5A Part 2 - Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate alculations.) UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance End of year amounts Depreciation Accumulated Book Value Expense Depreciation Total Problem 7-5A Part 3 3. Prepare a depreciation schedule for six years using the activity-based method. places and use this amount in all subsequent calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Activity-Based End of year amounts Depreciation Accumulated Book Value Expense Depreciation YearStep by Step Solution
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