[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 $258,000 including installation. The company estimates that the equipment will have a residual value of $28,500. 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 1 2 3 4 5 6 2,700 1,500 1,600 2,400 2,200 2,100 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)
[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 $258,000 including installation. The company estimates that the equipment will have a residual value of $28,500. 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 1 2 3 4 5 6 2,700 1,500 1,600 2,400 2,200 2,100 2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![[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 $258,000 including
installation. The company estimates that
the equipment will have a residual value of
$28,500. 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
1
2
3
4
5
6
2,700
1,500
1,600
2,400
2,200
2,100
2. Prepare a depreciation schedule for six
years using the double-declining-balance
method. (Do not round your intermediate
calculations.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feb1171fb-889f-4d0d-ad84-beae93565f59%2F7debe1ec-d2ec-4a69-9de7-490bd7b00d71%2Fvva1wvm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[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 $258,000 including
installation. The company estimates that
the equipment will have a residual value of
$28,500. 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
1
2
3
4
5
6
2,700
1,500
1,600
2,400
2,200
2,100
2. Prepare a depreciation schedule for six
years using the double-declining-balance
method. (Do not round your intermediate
calculations.)
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