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Required information Problem 7 - 5 A ( Algo ) Determine depreciation under three methods ( LO 7 - 4 ) [ The following information
Required information
Problem A Algo Determine depreciation under three methods LO
The following information applies to the questions displayed below.
University Car Wash purchased new soap dispensing equipment that cost $ including installation. The company estimates that the equipment will have a residual value of $ University Car Wash also estimates it will use the machine for six years or about total hours. Actual use per year was as follows:
tableYearHours Used
Problem A Algo Part
Prepare a depreciation schedule for six years using the doubledecliningbalance method. Do not round your intermediate calculations.
tableUNIVERSITY CAR WASHDepreciation ScheduleDoubleDecliningBalanceEnd of Year AmountsYeartableeciationpensetableAccumulatedDepreciationBook Value$
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