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Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $59,400. The equipment has an
Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $59,400. The equipment has an estimated residual value of $2,700. The equipment is expected to process 262,000 payments over its three-year useful life. Per year, expected payment transactions are 62,880, year 1; 144,100, year 2; and 55,020, year 3. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete a depreciation schedule for the straight-line method. (Do not round intermediate calculations.) Income Statement Year: Cost At acquisition Depreciation Expense Balance Sheet Accumulated Depreciation Book Value 1 2 3 Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete a depreciation schedule for the units-of-production method. (Do not round intermediate calculations. Round final answers to the nearest whole dollar.) Income Statement Year Depreciation Expense Cost At acquisition 1 2 3 Balance Sheet Accumulated Depreciation Book Value < Prev 10 of 13 Next > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete a depreciation schedule for the double-declining-balance method. (Do not round intermediate calculations.) Balance Sheet Income Statement Year Depreciation Expense Cost At acquisition 1 2 3 Accumulated Depreciation Book Value < Required 2 Required 3
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