Required information Problem 7-5A Determine depreciation under three methods (L07-4) The following information applies to the questions displayed below.) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $210,000 including Installation. The company estimates that the equipment will have a residual value of $19.500. University Car Wash also estimates it will use the machine for six years or about 12.500 total hours. Actual use per year was as follows: Year Hours Used 3,100 1.100 1.200 2,800 2.6ee 1,700 Problem 7-5A Part 1 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculation UNIVERSITY CAR WASH Depreciation Schedule-Straight-Line End of year amounts Depreciation Accumulated Book Value Expense Depreciation Total Help Required information Problem 7-5A Determine depreciation under three methods (L07-4) The following information applies to the questions displayed below.) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $210,000 including installation. The company estimates that the equipment will have a residual value of $19,500. University Car Wash also estimates it will use the machine for six years or about 12.500 total hours. Actual use per year was as follows: Hours Used 3,100 1.100 1,20 2,800 2.60e 1.700 Problem 7.5A Part 2 od. (Do not round your intermediate 2. Prepare a depreciation schedule for six years using the double-declining balance method. (Do not roun calculations.) UNIVERSITY CAR WASH Depreciation Schedule Double-Declining-Balance End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year 2 47-9) Saved Problem 7-5A Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $210,000 including installation. The company estimates that the equipment will have a residual value of $19,500. University Car Wash estimates it will use the machine for six years or about 12.500 total hours. Actual use per year was as follows: Hours Used 3, 10e 1.18e 1.20e 2.800 2.500 1,700 Problem 7.5A Part 3 3. Prepare a depreciation schedule for six years using the activity-based method. places and use this amount in all subsequent calculations.) "Depreciation Rate" to 2 decimal UNIVERSITY CAR WASH Depreciation Schedule Activity-Based End of year amounts Depreciation Accumulated Book Expense Depreciation Year 3 2 TI Total