part 3

Required information [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 $261,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year 1 2 3 4 5 6 Hours Used 2,300 1,400 1,500 2,500 2,300 1,500 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule Double Declining Balance End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year 1 2 3 4 5 6 Total