You have been hired by Patterson Planning Corp., an even were damaged. In reviewing the fixed asset records, you find three depreci assets has a depreciation rate of $4.30 per hour. Year Schedule A Schedule B Schedule C 1 $6,000 $10,125 $9,030 2 3,600 13,500 6,450 3 2,160 13,500 7,310 4 1,296 13,500 6,450 5 444 3,375 4,300 6 6,880 7 4,730 8 Total $13,500 $54,000 $45,150 2. For each of the depreciation schedules shown on the Patterson Planning Corp., fill in the fol require an entry, leave it blank. A B C Useful life 5 4 7 X Residual value 1,000 X 0 0 Asset cost 15,000 54,000 X 0 Total operating hours 0 0 10,500 Feedback Patterson Planning Corp., You have been hired by Patterson Planning Corp., an events planning company that recently had a fire in which some of the accounting records were damaged. In reviewing the fixed asset records, you find three depreciation schedules that are not labeled. They are listed in the following table. One of the assets has a depreciation rate of $4.30 per hour. Year Schedule A Schedule B Schedule C 12 $6,000 $10,125 $9,030 3,600 13,500 6,450 3 2,160 13,500 7,310 4 1,296 13,500 6,450 5 in 60 444 3,375 4,300 6,880 7 4,730 B 00 Total $13,500 $54.000 Depreciation $45,150 1. Determine which depreciation method is shown in each schedule on the Patterson Planning Coro, panel, Then match each schedule to the asset description that best characterizes the tune of secute tan 2. For each of the depreciation schedules shown on the Patterson Planning Corp., fill in the following information. If an amount box does not require an entry, leave it blank. A B C Useful life S 4 7 X Residual value 1,000 X 0 0 Asset cost 15,000 $ 54,000 X $ 0 Total operating hours 0 0 10,500 V Feedback Check My Work Think about how depreciation is computed under each method. Final Questions Review the depreciation schedules on the Patterson Planning Corp. panel, then answer the following questions. 1. How would you adjust Schedule B if, at the beginning of Year 3, the asset was estimated to have 5 more years of life remaining, but with a residual value that was $2,000 higher?