E10-20 Computing depreciation-three methods Learning Objective 2 1. Double-declining-balance, 12/31/17, Exp. $5,250 (Requirement I only) Crackling Fried Chicken bought equipment on January 2, 2016, for $21,000. The equipment was expected to remain in service for four years and to perform 3,600 fry jobs. At the end of the equipment's useful life, Crackling's estimates that its residual value will be $3,000. The equipment performed 360 jobs the first year, 1,080 the second year, 1,440 the third, and 720 the fourth year. Requirements 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods. Show your computations. Note: Three depreciation schedules must be prepared. 2. Which method tracks the wear and tear on the equipment most closely? E10-22 Recording partial-year depreciation and sale of an asset Learning Objectives 2, 3 Depr. Exp. $2,400 On January 2, 2015, Ditto Clothing Consignments purchased showroom fixtures for $12,000 cash, expecting the fixtures to remain in service for five years. Ditto has depreciated the fixtures on a double-declining-balance basis, with zero residual value. On October 31, 2016, Ditto sold the fixtures for $5,900 cash. Record both depreciation expense for 2016 and sale of the fixtures on October 31, 2016