Patterson Planning Corp.,

You have been hired by Patterson Planning Corp., an events planning company that recently had a fire in which some of the accounting records were damaged.

In reviewing the fixed asset records, you find three depreciation schedules that are not labeled. They are listed in the following table. One of the assets has a depreciation rate of $4.40 per hour.

Year	Schedule A			Schedule B			Schedule C
1		$10,000			$10,125			$9,240
2		6,000			13,500			6,600
3		3,600			13,500			7,480
4		2,160			13,500			6,600
5		740			3,375			4,400
6								7,040
7								4,840
8
Total		$22,500			$54,000			$46,200

1. Determine which depreciation method is shown in each schedule on the Patterson Planning Corp. panel. Then match each schedule to the asset description that best characterizes the type of assets often depreciated using that method.

Group of answer choices

Asset producing steady revenues

[ Choose ] Schedule B Schedule A Schedule C

Asset with variable in-service time

[ Choose ] Schedule B Schedule A Schedule C

Asset generating greater revenues in the early years

[ Choose ] Schedule B Schedule A Schedule C

2. (Just respond with a number)

The Useful Life of Schedule A is

The Useful Life of Schedule B is

The Useful Life of Schedule C is

3. What is the residual Value of Schedule A ?

a. $2,500

b. $22,500

c. $5,000

d. $25,000

4. What is the Cost of Schedule A ?

a. $22,500

b. $25,000

c. $5,000

d. $2,500