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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 $35,100. The equipment has
Sonic Corporation purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $35,100. The equipment has an estimated residual value of $2,100. The equipment is expected to process 260,000 payments over its three-year useful life. Per year, expected payment transactions are 62,400, year 1; 143,000, year 2; and 54,600, 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 Balance Sheet Year Depreciation Expense Cost At acquisition 1 2 3 Accumulated Depreciation Book Value
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Answer Heres the depreciation schedule for each of the alternative methods 1 Straigh...Get Instant Access to Expert-Tailored Solutions
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