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1 Required information [The following informationapplies to the questions displayed below.] University...

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Accounting

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Required information
[The following informationapplies to the questions displayed below.]
University Car Wash purchased new soap dispensing equipment that cost $258,000 including installation. The company estimates that the equipment will have a residual value of $28,500. 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:
\table[[Year,Hours Used],[1,2,760],[2,1,500],[3,1,600],[4,2,400],[5,2,260],[6,2,100]]
Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)
\table[[UNIVERSITY CAR WASH],[Depreciation Schedule-Double-Declining-Balance,,],[Year,\table[[Depreciation],[Expense]],\table[[Accumulated],[Depreciation]],Book Value,],[1,,,,],[2,,,,],[3,,,,],[4,,,,],[5,,,,],[6,,,,],[Total,,,,]]
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