{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-21T22:07:42-04:00", "answer_date": "2024-05-21 22:07:42", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1477001", "url": "\/study-help\/questions\/required-information-problem-75a-algo-determine-depreciation-under-three-methods-1477001", "question_creation_date_js": "2024-05-21T22:07:42-04:00", "question_creation_date": "May 21, 2024 10:07 PM", "meta_title": "[Solved] Required information Problem 7-5A (Algo) | SolutionInn", "meta_description": "Answer of - Required information Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4) [The following information | SolutionInn", "meta_keywords": "required,information,problem,7-5a,algo,determine,depreciation,three,methods,lo7-4,applies,questions", "question_title_h1": " Required information Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] University Car Wash purchased", "question_title": " Required information Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4)", "question_title_for_js_snippet": "Required information Problem 7 5A (Algo) Determine depreciation under three methods (LO7 4) The following information applies to the questions displayed below University Car Wash purchased new soap dispensing equipment that 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 Hours Used 2,800 123456 1,400 1,500 2,500 2,300 1,500 Problem 7 5A (Algo) Part 1 Required 1 Prepare a depreciation schedule for six years using the straight line method (Do not round your intermediate calculations ) UNIVERSITY CAR WASH Depreciation Schedule Straight Line End of Year Amounts Depreciation Accumulated Year Book Value Expense Depreciation 1 $ 73,000 $ 73,000 $ 146,000 2 48,667 121,667 97,333 3 32,444 154,111 64,889 4 21,630 175,741 43,259 5 14,420 190,160 28,840 6 9,340 199,500 19,500 Total $ 199,501", "question_description": "\"image\"image", "transcribed_text": "Required information Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] University Car Wash purchased new soap dispensing equipment that 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 Hours Used 2,800 123456 1,400 1,500 2,500 2,300 1,500 Problem 7-5A (Algo) Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Straight-Line End of Year Amounts Depreciation Accumulated Year Book Value Expense Depreciation 1 $ 73,000 $ 73,000 $ 146,000 2 48,667 121,667 97,333 3 32,444 154,111 64,889 4 21,630 175,741 43,259 5 14,420 190,160 28,840 6 9,340 199,500 19,500 Total $ 199,501", "related_book": { "title": "Accounting", "isbn": "324401841, 978-0-324-6250, 0-324-62509-X, 978-0324401844", "edition": "22nd Edition", "authors": "Carl S. Warren, James M. Reeve, Jonathan E. Duchac", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/142.jpg", "uri": "\/textbooks\/accounting-22nd-edition-142", "see_more_uri": "" }, "free_related_book": { "isbn": "162705135X", "uri": "\/textbooks\/translating-euclid-designing-a-human-centered-mathematics-1st-edition-978-1627051354-240674", "name": "Translating Euclid Designing A Human Centered Mathematics", "edition": "1st Edition" }, "question_posted": "2024-05-21 22:07:42", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/macroeconomics-\/apply-the-rule-of-70-to-the-data-in-figure-1281585", "description": "Apply the Rule of 70 to the data in Figure 9-3 to determine how many years it will take each of the countries listed there (except Venezuela) to double its real GDP per capita. 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