FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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University Car Wash built a deluxe car wash
across the street from campus. The new
machines cost $231,000 including
installation. The company estimates that
the equipment will have a residual value of
$25,500. University Car Wash also
estimates it will use the machine for six
years or about 12,500 total hours. Actual
use per year was as follows: Year Hours
Used 1 2,900 2 1,800 3 1,900 4 2,100 5
1,900 6 1,900
How do I create a depreciation schedule
for end of the year amounts using all 3
forms of depreciation?
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Transcribed Image Text:University Car Wash built a deluxe car wash across the street from campus. The new machines cost $231,000 including installation. The company estimates that the equipment will have a residual value of $25,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows: Year Hours Used 1 2,900 2 1,800 3 1,900 4 2,100 5 1,900 6 1,900 How do I create a depreciation schedule for end of the year amounts using all 3 forms of depreciation?
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