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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.
Required:
Prepare a depreciation schedule for six years using the following methods:
1. Straight Line2. Double-Declining-Balance3. Activity-Based
Actual use per year was as follows:
Year Hours Used
1 2,6002 2,1003 2,2004 1,8005 1,6006 1,700
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