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Prepare a depreciation schedule for six years

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Reference no: EM133015026

Question - University Car Wash built a deluxe car wash across the street from campus. The new machines cost $270,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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

3,100

2

1,100

3

1,200

4

2,800

5

2,600

6

1,200

Required - Prepare a depreciation schedule for six years using the straight-line method?

Reference no: EM133015026

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