Question

Please explain every single step of answers.

wuestion Help Seconds Fried Chicken bought equipment on January 2, 2016for $39.000. The equipment was expected to remain in service for four years and to perform 6.600 fry jobs. At the end of the equipment's useful life. Seconds estimates that its residual value will be $6,000The equipment performed 660 jobs the first year, 1980 the second year, 2.640 the third year, and 1,320 the fourth year Requirements 1. Prepare a schedule of depreciation expense accumulated depreciation, and book value per year for the equipment under the three depreciation methods Show your computations. Note: Three depreciation schedules must be prepared 2. Which method tracks the wear and tear on the equipment most closely? Requirement 1. Prepare a schedule of depreciation expense accumulated depreciation, and book value per year for the equipment under the three depreciation methods. Show your computations Note: Three depreciation schedules must be prepared Begin by preparing a depreciation schedule using the straight-line method Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Depreciation Depreciation Cost Cost Rate Expense Accumulated Depreciation Book Value Bote

Answer 1

Asset Date cost Depreciation Depreciable for the Year Depreciation Rate Depreciation Eupense Accumulated Depreciation Book value cost 1-2-2016 $39,000 $ 39,000 12-31-2016 $ 33,000 U years - $8,250 $8,250 $ 16, 500 $30, 750 $ 22,500 12-31 - 2017 $39,000 4 years = $ 8,250 12-31 - 2018 = 4 years ? $ 8,250 $33,000 $ 33,000 $ 24,750 $14,250 12-31 - 2019 years : $ 8,250 $ 33,000 $ 6,000

Useful life on units - Depreciation per unt = $5 Units of Production Depreciation schedule Cost - Residual value $ 39,000 $ 6000 Depreciation for the Asset Depreciation Number of per unit units 1-2-2016 $ 39,000 6,600 Year Depreciation Eu pense Book Value Accumulated Depreciation Date Cost $39,000 12-31-2016 12-31-2017 660 $ 3,300 $ 3,300 $35,900 x 1,980 $ 9,900 $ 13,200 12-31-2018 X 2,640 $ 13,200 $ 26,400 $33,000 $ 25,800 $ 12,600 $6,000 12-31-2019 X 1,320 $ 5,600

- Double Declining Asset Cost Balance Depreciation Method Depreciation for the Year Book DDB De preciation Value Eupense Book Date Accumulated Deprecahon Rate 1-2-2016 $ 39,000 $39,000 12-31-2016 $39,000 2x Cu Years) . $19,500 $19,500 $19,500 12-31-2017 $19,500 2x years) = $9,750 $29,250 $9,750 12-31-2018 $ 9,750 -$3750 12-31 - 2019 $ 6,000 $ 33,000 $33000 $6000 $6,000 Units of it Boduction will show method how much tracks wear and tear most accurately as it used and remeung useful to produce hother