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Brenan, Inc. purchased equipment at the beginning of 2004 for $2,100,000. Brenan. The equipment has...

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Accounting

Brenan, Inc. purchased equipment at the beginning of 2004 for $2,100,000. Brenan. The equipment has an estimated residual value (salvage value) of $100,000 and an estimated life of 5 years or 100,000 hours of operation. The machinery was operated for 15,000 hours in 2004, 20,000 hours in 2005, 35,000 hours in 2006, 20,000 hours in 2007, and 10,000 hours in 2008.....Create a depreciation schedule for Straight-line depreciation method ....Cost ..Book Value (beginning) ..Depreciation Expense ..Accumulated Depreciation ..Book Value (ending), Units of production Cost ..Book Value (beginning) ..Depreciation Expense ..Accumulated Depreciation ..Book Value (ending), and Double declining balance Cost ..Book Value (beginning) ..Depreciation Expense ..Accumulated Depreciation ..Book Value (ending). Then record the depreciation journal entry using the double declining balance method for 2006.

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