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Prepare depreciation schedule for six years

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University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27,000. 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         Hours Used
1             2,800
2             1,900
3              2,000
4             2,000
5             1,800
6                1,500

Required:

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

Reference no: EM132775471

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