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This is all one problem Crackling Fried Chicken bought equipment on January 2, 2018, for $42,000. The equipment was expected to remain in service for
This is all one problem
Crackling Fried Chicken bought equipment on January 2, 2018, for $42,000. The equipment was expected to remain in service for four years and to operate for 12,000 hours. At the end of the equipment's useful life, Crackling estimates that its residual value will be $6,000. The equipment operated for 1,200 hours the first year, 3,600 hours the second year, 4,800 hours the third year, and 2,400 hours the fourth year. Read the requirements. T2-3 T-ZUZT N O UVU 4 years |=| JUU JUUUU VUUU 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. Cost Residual value Useful life in units Depreciation per unit c 42000 - 9000) 4 = Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Asset Depreciation for the Year Depreciation Number of Depreciation Per Unit Units Expense Accumulated Depreciation Book Value Date Cost 1-2-2018 | 12-31-2018 12-31-2019 Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Book Date Cost Per Unit Units Expense Depreciation Value x II 1-2-2018 12-31-2018 12-31-2019 12-31-2020 x 11 x 11 12-31-2021 x 11 Double-Declining-Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Expense Accumulated Depreciation Book Value Date Cost Value Rate 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 method tracks wear and tear most closelyStep by Step Solution
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