Chapter $7-$ Homework

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University Car Wash purchased new soap dispensing equipment that cost $$213,000$ including installation. The company estimates that the equipment will have a residual value of $$19,500.$ University Car Wash also estimates it will use the machine for six years or about $12,500$ total hours. Actual use per year was as follows:

$\backslash$table$[[$Year$,$Hours Used$],[1,3,000],[2,1,200],[3,1,300],[4,2,700],[5,2,500],[6,1,800]]$

Required:

Prepare a depreciation schedule for six years using the straight$-$line method. $($Do not round your intermediate calculations.$)$

$\backslash$table$[[$UNIVERSITY CAR WASH$],[$Depreciation Schedule$-$Straight$-$Line$],[$End of Year Amounts$],[$Year$,\backslash$table$[[$Depreciation$],[$Expense$]],\backslash$table$[[$Accumulated$],[$Depreciation$]],$Book Value$],[1,,,],[2,,,],[3,,,],[4,,,],[5,,,],[6,,,],[$Total$,$$$,,]]$