University car wash built a deluxe car wash across the

Reference no: EM13575371

University Car Wash built a deluxe car wash across the street from campus. The new machines cost $240,000 including installation. The company estimates that the equipment will have a residual value of $30,000. 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	2,600
2	2,100
3	2,200
4	1,800
5	1,600
6	1,700

1. Prepare a depreciation schedule for six years using the double-declining-balance method.

2. Prepare a depreciation schedule for six years using the activity-based method.

Reference no: EM13575371

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