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P 8-48A Requirements 1. For each depreciation method, prepare a depreciation schedule showing asset cost, depreciation accumulated depreciation, and asset book value for each year of the asset's life. For the units-of-pr method, round depreciation per unit to three decimal places. 2. Azul Enterprises, Inc., prepares financial statements using the depreciation method that reports t income in the early years of asset use. For income tax purposes, the company uses the depreciatio minimizes income taxes in the early years. Consider the first year Azul Enterprises, Inc., uses the eq Identify the depreciation methods that meet Azul Enterprises' objectives, assuming the income tax a permit the use of any method. 3. Show how Azul Enterprises, Inc., would report equipment on the December 31, 2015, balance sh depreciation method. Req. 1 DATE ASSET COST Straight-Line Depreciation Schedule Depreciation for the Year DEPRECIATION DEPRECIABLE DEPRECIATION RATE COST EXPENSE Computations: DATE ASSET COST Units-of-Production Depreciation Schedule Depreciation for the Year DEPRECIATION NUMBER OF DEPRECIATION PER UNIT UNITS EXPENSE Computations: Double-Declining-Balance Depreciation Schedule Depreciation for the Year DATE ASSET COST DDB DEPRECIATION RATE BOOK VALUE DEPRECIATION EXPENSE Computations: Req. 2 Req. 3 Method of depreciation Straight-line Units of Production ing asset cost, depreciation expense, set's life. For the units-of-production iation method that reports the highest mpany uses the depreciation method that nterprises, Inc., uses the equipment. assuming the income tax authorities ember 31, 2015, balance sheet for each edule ACCUMULATED DEPRECIATION BOOK VALUE ACCUMULATED DEPRECIATION BOOK VALUE chedule n Schedule ACCUMULATED DEPRECIATION Declining Balance BOOK VALUE