Prepare a depreciation schedule for four years

Reference no: EM131521434

Question: Cheetah Copy purchased a new copy machine. The new machine cost $120,000 including installation. The company estimates the equipment will have a residual value of $30,000. Cheetah Copy also estimates it will use the machine for four years or about 8,000 total hours.

Required: Prepare a depreciation schedule for four years using the following methods:

1. Straight-line.

2. Double-declining-balance. ( The asset will be depreciated in only two years.)

3. Activity-based. Actual use per year was as follows:

Year Hours Used

1 2,500

2 2,200

3 1,900

4 2,000

Reference no: EM131521434

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