Papa'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, Papa'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 nce, the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. anut Show your computations. Note: Three depreciation schedules must be prepared. ment aan ke Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule bough Depreciation for the Year to rem ul? life, Asset Depreciable Useful Depreciation Accumulated Book of the an Date Cost Cost Life Expense Depreciation Value 1-2-2018 42,000 42,000 omplete) 12-31-2018 Apment on to operate 12-31-2019 years le cost Uses 12-31-2020 12-31-2021 14 years ought equipe and to open will be $3,000. Choose from any list or enter any number in the input fields and then continue to the next question. ? ungs so I can ke 4 years 4 4 years Question Help Papa'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, Papa'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. TCUT CU ce. 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 yuara nut ment in ke Book bough Prepare a depreciation schedule using the units-of-production method. so rem al? lite, Units-of-Production Depreciation Schedule of the an Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated umplete) Date Cost Per Unit Units Expense Depreciation oment on so operate 1-2-2018 cost Uselt 12-31-2018 X 12-31-2019 aught equipe 12-31-2020 and to open I be $3,000. Choose from any list or enter any number in the input fields and then continue to the next question. ags so I can ke Value ? spy Fried Chicken bu Papa'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, Papa'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. anke Prepare a depreciation schedule using the units-of-production method. nce, manut Units-of-Production Depreciation Schedule mer Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Book Date Cost Per Unit bough Units Expense Depreciation Value to rem 1-2-2018 tul? We 12-31-2018 of the an 12-31-2019 12-31-2020 complete) uipment on 12-31-2021 d to operate ble cost Use Prepare a depreciation schedule using the double-declining-balance (CB) method. (Enter a "0" for any items with a zero value.) X Double-Declining-Balance Depreciation Schedule bought equipe ars and to oper will be $3.0 Chance year, and 1,440 hours the fourth year. Read the requirements Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "O" for any items with a e, zero value.) hug em Double-Declining-Balance Depreciation Schedule ke Depreciation for the Year Asset Book DDB Depreciation Accumulated Book Sough Date Cost Value Rate Expense Depreciation Value co rem al? Itte, 1-2-2018 the an 12-31-2018 12 12 omplete) pment on to operate e cost Useft 12 double-declining-balance straight-line units-of-production Regi he wear and tear on the equipment most closely? The method tracks wear and tear most closely ought equipe and to open will be $3,000. Choose from any list or enter any number in the input field angs so I can ke