Seconds Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to remain in service for four years and to operate for 4,000 hours. At the end of the equipment's useful life, Seconds estimates that its residual value will be $3,000. The equipment operated for 400 hours the first year, 1,200 hours the second year, 1,600 hours the third year, and 800 hours the fourth year. Read the requirements. Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units of production, and double-declining balance. Show your computations. Note: Three depreciation schedules must be prepared. Bogin by proparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule i Requirements Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book 1. Prepare a schedule of depreciation experise, accumulated depreciation, and Date Cost Cost Life Expense Depreciation Value book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining balance. Show your 1-2-2018 computations. Note: Three depreciation schedules must be prepared. 12-31-2018 2. Which method tracks the wear and tear on the equipment most closely 12-31-2019 12-31-2020 Print Done 12-31-2021 Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. = Depreciation per unit Prepare a depreciation schedule using the units-of-production method. Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. v = Depreciation per unit Accumulated depreciation Prepare a depreciation schedule using the units-of-production method Cost Units-of-Production Depreciation Schedule Residual value Depreciation for the Y, Useful life in units Useful life in years Asset Depreciation Number of d Book Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Date Cost Per Unit Units Expense Depreciation Book Value 1-2-2018 12-31-2018 12-31-2019 x x 12-31-2020 x 12-31-2021 x Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "0" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Book Date Cost Value Rate Expense Depreciation Value 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Requirement 2. Which method tracks the wear and tear on the equipment most closely? The V method tracks wear and tear most closely