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Oklahoma Baked Chicken bought equipment on January 2, 2024 for $33,000. The equipment was expected to remain in service for four years and to operate
Oklahoma Baked Chicken bought equipment on January 2, 2024 for $33,000. The equipment was expected to remain in service for four years and to operate for $6,750 hours. At the end of the equipment's useful life, Oklahoma estimates that its residual value will be $6,000. The equipment operated for 675 hours the first year, 2,025 hours the second year, 2,700 hours the third year, and 1,350 hours the fourth year. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment using the Straight-line method. Show your calculations
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