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Prepare depreciation schedule for six years

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Question - 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 - Prepare depreciation schedule for six years using the straight-line method.

Reference no: EM132781060

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