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Required information Problem 7-5B Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy

Required information

Problem 7-5B Determine depreciation under three methods (LO7-4)

[The following information applies to the questions displayed below.]

Cheetah Copy purchased a new copy machine. The new machine cost $134,000 including installation. The company estimates the equipment will have a residual value of $33,500. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows:

Year Hours Used
1 2,800
2 2,000
3 2,000
4 3,200

Problem 7-5B Part 1

Required:

1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)

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