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[The following information applies to the questions displayed below.] University Car Wash built a deluxe car wash across the street from campus. The new machines
[The following information applies to the questions displayed below.] University Car Wash built a deluxe car wash across the street from campus. The new machines cost $261,000 including installation. The company estimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for six years or about 12,000 total hours. Actual use per year was as follows: Year 1 Hours Used 2,800 2 1,400 3 1,500 4 2,500 5 6 2,300 1,500 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Double-Declining-Balance Depreciation Year Expense 1 2 End of year amounts Accumulated Depreciation Book Value 3 4 5 6 Total
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