Papa's

Fried Chicken bought equipment on

January

2,

2024,

for

$21,000.

The equipment was expected to remain in service for four years and to operate for

4,500

hours. At the end of the equipment's useful life,

Papa's

estimates that its residual value will be

$3,000.

The equipment operated for

450

hours the first year,

1,350

hours the second year,

1,800

hours the third year, and

900

hours the fourth year.

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.