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University Car Wash built a deluxe car wash across the street from campus. The new machines cost $228,000 including installation. The company estimates that the
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $228,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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 Hours Used 3,000 1.700 1,800 2,200 2,000 1,300 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation ScheduleStraight-Line End of year amounts Depreciation Accumulated Bob Value Expense Depreciation Year 2 3 4 5 6 Tasty Subs acquired a delivery truck on October 1, 2021, for $16,500. The company estimates a residual value of $1,500 and a six-year service life. Required: Calculate depreciation expense using the straight-line method for 2021 and 2022, assuming a December 31 year-end. 2022 2021 2,500 Depreciation expense $
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