Last part 2023 MW 4:30pmk Chapter 10 Homeworkstve thisKSouther Fried Chicken bought equipment on January 2, 2024, for $21,000. The equipment was expected to remain in service for four years and to operate for 4,500 hours. At the end of the equipment's useful life, Southem1,800 hours the third year, and 900 hours the fourth year.Read the requirements.Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book vake per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declinaBegin by preparing a depreciation schedule using the straight-line method.Straight-Line Depreciation ScheduleDate1-2-2024 S12-31-202412-31-202512-31-202612-31-2027Etext pagesCost21,000Asset DepreciableCostCost21,00012-31-202012-31-2027Date1-2-202412-31-202412-31-2025Type here to searchS)+)+($Prepare a depreciation schedule using the units-of-production method.Units-of-Production Depreciation ScheduleAsset DepreciationDateCost Per Unit1-2-2024 $ 21,00012-31-202412-31-2025AssetCostGet more help.Depreciation for the YearUsefulLife18,0004 years18,000 +4 years18,000+ 4 years18,000 + 4 years*Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit.Useful life in units= Depreciation per unitResidual value3,0004,500$BookValue4 x4 x4 x4 x=Depreciation for the YearNumber ofUnitsxDepreciation AccumulatedExpense Depreciation21 7S101=450 $1,350 =1.800 =900-=4,500 $4,5004,5004.500DepreciationExpensePrepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "0" for any items with a zero value.)Double-Declining-Balance Depreciation ScheduleDepreciation for the YearDDBRatef5WAME $ 21,00016,5004,5009,00013,50018.0001,800 $5,4007,2003,600AccumulatedDepreciation.BookValueDepreciation AccumulatedExpense Depreciation$1,8007,20014,40018,0001612,0007,5003.000BookValue$ 21,00019.20013.8006,6003,00040Question 3, EF10-20 (similar to)4BookValueho

DEPRECIATION EXPENSEDepreciation means gradual decrease in value of assets due to normal wear and…

2023 MW 4:30pm k: Chapter 10 Homework st ve this K Southem Fried Chicken bought equipment on January 2, 2024, for $21,000. The equipment was expected to remain in service for four years and to operate for 4,500 hours. At the end of the equipment's useful life, Southem 1,800 hours the third year, and 900 hours the fourth year. Read the requirements. Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book vakie per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declin Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Date Cost 1-2-2024 $ 21,000 12-31-2024 12-31-2025 12-31-2026 12-31-2027 Etext pages ( $ Date Asset Depreciable Cost 1-2-2024 12-31-2024 12-31-2025 Cost 21,000 Type here to search S Before calculating the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. Useful life in units = Depreciation per unit Residual value 3,000 )4 4,500 Prepare a depreciation schedule using the units-of-production method. Units-of-Production Depreciation Schedule Asset Cost Get more help. Depreciation for the Year Useful Life 18,000 18,000 + 18,000 + 18.000 + Asset Depreciation Cost Per Unit 21,000 $ Book Value 4 years 4 years 4 years 4 years Depreciation for the Year Number of Units Date 1-2-2024 S 12-31-2024 12-31-2025 12-31-2020 12-31-2027 Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "0" for any items with a zero value) Double-Declining-Balance Depreciation Schedule 4 x 4 4 x x Depreciation Accumulated Expense Depreciation $ DDB Rate Depreciation for the Year 21 7 = 4.500 S 4,500 4.500 4,500 450 M $ 1,350 = 1,800 = 900 = 4,500 9,000 13,500 18,000 Book Value $ 21,000 16,500 12,000 7,500 3,000 Depreciation Accumulated Expense Depreciation 1,800 $ 5,400 7,200 3,600 $ 1,800 7,200 14,400 18,000 Book Value $ Question 3, EF10-20 (similar to) 21,000 10.200 13,800 6,600 3,000 Depreciation Accumulated Book Expense Depreciation Value D