Cheetah Copy purchased a new copy machine. The new machine cost $116,000 including installation. The company estimates the equipment will have a residual value of $29,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows:   Year Hours Used 1 2,800 2 2,000 3 2,000 4 2,000

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Cheetah Copy purchased a new copy machine. The new machine cost $116,000 including installation. The company estimates the equipment will have a residual value of $29,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours. Actual use per year was as follows:

 

Year Hours Used
1 2,800
2 2,000
3 2,000
4 2,000
 

 

 

1. Prepare a depreciation schedule for four years using the straight-line method. (Do not round your intermediate calculations.)

 

 

 

 

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