[The following information applies to the questions displayed below.] University Car Wash purchased new soap dispensing equipment that cost $228,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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: Year Year 1 2 1 2 3 4 5 6 Total 2355N 4 6 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) Hours Used 3,000 1,700 1,800 2,200 2,000 1,300 UNIVERSITY CAR WASH Depreciation Schedule Straight-Line End of Year Amounts Depreciation Expense Accumulated Depreciation Book Value E
[The following information applies to the questions displayed below.] University Car Wash purchased new soap dispensing equipment that cost $228,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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: Year Year 1 2 1 2 3 4 5 6 Total 2355N 4 6 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) Hours Used 3,000 1,700 1,800 2,200 2,000 1,300 UNIVERSITY CAR WASH Depreciation Schedule Straight-Line End of Year Amounts Depreciation Expense Accumulated Depreciation Book Value E
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
am. 119.
![[The following information applies to the questions displayed below.]
University Car Wash purchased new soap dispensing equipment that cost $228,000 including installation. The company
estimates that the equipment will have a residual value of $24,000. 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:
Year
1
2
3
4
Year
5
6
Total
2355NH.
1
4
Hours Used
3,000
1,700
Required:
1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)
1,800
2,200
2,000
1,300
UNIVERSITY CAR WASH
Depreciation Schedule Straight-Line
End of Year Amounts
Depreciation
Expense
Accumulated
Depreciation
Book Value](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F71f32876-63ba-4948-b155-6b44595aac9c%2F51d1343e-6355-4331-b9f6-a83c9a2c3350%2Fbk9ehns_processed.png&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
University Car Wash purchased new soap dispensing equipment that cost $228,000 including installation. The company
estimates that the equipment will have a residual value of $24,000. 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:
Year
1
2
3
4
Year
5
6
Total
2355NH.
1
4
Hours Used
3,000
1,700
Required:
1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)
1,800
2,200
2,000
1,300
UNIVERSITY CAR WASH
Depreciation Schedule Straight-Line
End of Year Amounts
Depreciation
Expense
Accumulated
Depreciation
Book Value
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