Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4) [The following information applies to the questions displayed below.] Year University Car Wash purchased new soap dispensing equipment that cost $261,000 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: 1 2 3 4 5 6 Year 123456 Problem 7-5A (Algo) Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) Hours Used 2,800 1,400 1,500 2,500 2,300 1,500 UNIVERSITY CAR WASH Depreciation Schedule Straight-Line End of Year Amounts Depreciation Expense Accumulated Depreciation Book Value

Problem 7.5A (Algo) Determine depreciation under three methods (LO7-4) [The following informaton applies to the questions dispayed befow] Unversity Car Washi purchased new soap dispensing equipment that cost $261,000 including installation. The company entimates that the equipment will have a residual value of $27,000. University Car Wash also estimates it will use the machine for sax years or about 12.000 total hours. Actual use per year was as follows: Problem 7-5A (Algo) Part 1 Required: 1. Prepare a deprecation schedule for sis years using the straight-line method. (Do not round your intermediate calculations.)