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alculator Mastery Problem: Operating Assets Depreciation Final Questions Final Questions Review the depreciation schedules on the Patterson Planning Corp. panel, then answer the following questions 1. How would you adjust Schedule Bit at the beginning of Year 3 the asset was estimated to have 5 more years of life remaining, but with a residual value that was $3,000 higher? The total depreciation for this asset now will be s The depreciation amount for Year 3 will be 5 Points: 012 2. What is the difference between the journal entries for discarding or selling a fixed asser? The journal entry to discard a fixed asset differs from the other entry because there is no receipt of cash Check My Work 6:02 PM Operating Assets Depreciation Final Questions Patterson Planning Corp 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 $4.50 per hour Year Schedule A Schedule B Schedule C bg, but with a residual valu $9.450.00 6,750.00 $6,000.00 3,600.00 2,160.00 1,296.00 444.00 $10,125.00 13,500.00 13,500.00 13,500.00 3,375.00 7,650.00 6,750.00 Points 4,500.00 7,200.00 4,950.00 Total $13,500.00 $54,000.00 $47,250.00 Check My Work