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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 $40,500. 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 $40,500. The equipment has an estimated residual value of $2,100. The equipment is expected to process 265,000 payments over its three-year useful life. Per year, expected payment transactions are 63,600 year 1; 145,750, year 2; and 55,650 year 3. Complete a depreciation schedule for each of the alternative methods.
1. Straight-line.
2. Units-of-production.
3. Double-declining-balance.
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