On January 3, 20X2, J.B. Weld Co. paid $224,000 for a computer system. In addition to the basic purchase price, the company paid a setup fee of $6,200, $6,700 sales tax, and $3,100 for a special platform on which to place the computer. J.B. Weld management estimates that the computer will remain in service 5 years and have a residual value of $20,000. The computer will process 50,000 documents the first year, with annual processing decreasing by 5,000 documents during each of the next 4 years (that is, 45,000 documents in 20X3; 40,000 documents in 20X4; and so on). In trying to decide which depreciation method to use, the company president has requested a depreciation schedule for each of 3 depreciation methods (straight-line, units-of-production, and double-declining-balance).

Required

For each of the generally accepted depreciation methods, prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asset book value.