7.3

Required information Problem 7-5B (Algo) Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] One Stop Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. One Stop Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows: Year Hours Used 2,500 2,200 1,900 2,000 AWNI 1 2 3 4 Required: 1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.) ONE STOP COPY Depreciation Schedule-Straight-Line End of Year Amounts Accumulated Year Depreciation Expense Book Value Depreciation 1 2 3 4 Total $ 0