You have been hired by Patterson planning corp. an events planning company that recentky had a fire in which sime if the accounting recirds were damaged.

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 $4.50 per hour. Year Schedule A Schedule B Schedule C 1 $12,000.00 $10,125.00 $9,450,00 2 7.200.00 13,500.00 6,750.00 7,650,00 3 4,320.00 13,500.00 6,750.00 2,592.00 888,00 13,500.00 3,375.00 5 4,500.00 6 7,200.00 7 4,950.00 8 Total $27,000.00 $54,000.00 $47,250 00 Depreciation Shaded cells have feedback. X 1. Determine which depreciation method is shown in each schedule on the Patterson Planning Corp. panel. Then match each schedule to the asset description that best characterizes the type of assets often depreciated using that method. Asset Description Depreciation Schedule Used Asset with variable in-service time Asset generating greater revenues in the early years Asset producing steady revenues B Points: 3/3 Foodback 2. For each of the depreciation schedules shown on the Parterson Planning Corp. panel, ne in the following information. Leave any cells blank mat cannot be determined from the depreciation schedule B Useful life 2. For each of the depreciation schedules shown on the Patterson Planning Corp. panel, tu in the following information. Leave any cells blank that cannot be determined from the depreciation schedule A B Useful life Residual value Asset cost $ $ Total operating hours Points: 6/12 Foodback LU 1. How would you adjust Schedule te beginning of Year 3, that was estimated to have more years aftermaring out with a vate het was $2.500wer? The total doperation for this set now will be $ The depreciation amount for Yew 365 Po 1012 2 What is the difference betwee joomade for decading or selling and asser? The Journal entry to affers from the other entry base 012 3. Compen mellowings about de son The balance of the counted Depron (A) When and assetistuly deprecated it Perserts Deprecationes