Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX,...
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Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $51,300 The equipment has an estimated residual value of $3,300. The equipment is expected to process 267,000 payments over its three- year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850, year 2, and 56,070, year 3. TIP: You cannot depreciation past residual/salvage value in the last year of depreciation. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 31 Complete a depreciation schedule for Straight-line method. (Do not round intermediate calculations.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 $ 51,300 2 3 51,300 51,300 Required 2 > Sushi Corp. purchased and installed electronic payment equipment at its drive-in restaurants in San Marcos, TX, at a cost of $51,300 The equipment has an estimated residual value of $3,300. The equipment is expected to process 267,000 payments over its three- year useful life. Per year, expected payment transactions are 64,080, year 1; 146,850, year 2, and 56,070, year 3. TIP: You cannot depreciation past residual/salvage value in the last year of depreciation. Required: Complete a depreciation schedule for each of the alternative methods. 1. Straight-line. 2. Units-of-production. 3. Double-declining-balance. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 31 Complete a depreciation schedule for Straight-line method. (Do not round intermediate calculations.) Income Statement Balance Sheet Year Depreciation Expense Cost Accumulated Depreciation Book Value At acquisition 1 $ 51,300 2 3 51,300 51,300 Required 2 >
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To complete the depreciation schedule for the straightline method we need to calculate the annual de... View the full answer
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