omework$\_$Chapter $7$ i

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Problem $7-5$A $($Algo$)$ Determine depreciation under three methods $($LO$7-4)$

$[$The following information applies to the questions displayed below.$]$

University Car Wash purchased new soap dispensing equipment that cost $$246,000$ including installation. The company estimates that the equipment will have a residual value of $$27,000.$ University Car Wash also estimates it will use the machine for six years or about $12,000$ total hours. Actual use per year was as follows:

$\backslash$table$[[$Year$,$Hours Used$],[1,2,800],[2,1,900],[3,2,000],[4,2,000],[5,1,800],[6,1,500]]$

Problem $7-5$A $($Algo$)$ Part $2$

$2.$ Prepare a depreciation schedule for six years using the double$-$declining$-$balance method. $($Do not round your intermediate calculations.$)$

$\backslash$table$[[$UNIVERSITY CAR WASH$],[$Depreciation Schedule$-$Double$-$Declining$-$Balance$],[$End of Year Amounts$],[$Year$,$Depreciation Expense,Accumulated Depreciation,Book Value$],[1,$$$,82,000,$$$,82,000,$$$,164,000],[2,,54,667,,,,109,333],[3,,36,444,,,,72,889],[4,,24,296,,,,48,593],[5,16,198,,,,32,395],[6,,,,],[$Total$,$$$,213,605,,,,]]$

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