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1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared 2. Which method tracks the wear and tear on the equipment most closely? Units-of-Production Depreciation Schedule Depreciation for the Year Number of Units Book Depreciation Accumulated Expense Depreciation Depreciation Asset Value Per Unit Cost Date 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "O" for any items with a zero value.) Double-Declining-Balance Depreciation Schedule Depreciation for the Year DDB Rate Book Depreciation Accumulated Expense Depreciation Book Asset Value Value Cost Date 1-2-2018 12-31-2018 12-31-2019 12-31-2020 Golden Fried Chicken bought equipment on January 2, 2018, for $15,000. The equipment was expected to remain in service for four years and to operate for 2,400 hours. At the end of the equipment's useful life, Golden estimates that its residual value will be $3,000. The equipment operated for 240 hours the first year, 720 hours the second year, 960 hours the third year, and 480 hours the fourth year Read the requirements. Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreclation scheduies must be prepered. Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Accumulated Book Expense Depreciation Value Life Date Cost Cost 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021 Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. Depreciation per unit )1 Prepare a depreciation schedule using the units-of-production method. double-declining-balance straight-ine units-of-production Requ ne wear and tear on the equipment most closely? cks wear and tear most closely. method tra The