Crackling Fried Chicken bought equipment on January 2,2024, for $18,000. The equipment was expected to...

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Accounting

Crackling Fried Chicken bought equipment on January 2,2024, for $18,000. The equipment was expected to remain in service for four years and to operate for 3,000 hours. At the end of the equipment's useful life, Crackling estimates that its residual value will be $3,000. The equipment operated for 300 hours the first year, 900 hours the second year, 1,200 hours the third year, and 600 hours the fourth year
Read the requirements.
\table[[Date,Cost,,Yer Unit,,units,,,nse,,clation,Value],[1-2-2024$,18,000,,,,,,,,,St,18,000],[12-31-2024,,s,,x,300,=,s,1,500,$,1,500,16,500],[12-31-2025,,,5,x,900,=,,4,500,,6,000,12,000],[12-31-2026,,,5,x,1,200,=,,6,000,,12,000,6,000],[12-31-2027,,,5,x,600,=,,3,000,,15,000,3,000]]
Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Enter a "0" for any items with a zero value.)
Double-Declining-Balance Depreciation Schedule
\table[[Date,\table[[Asset],[Cost]],Depreciation for the Year,{
\table[[Accumulated],[Depreciation]]},,\table[[Book],[Value]]],[\table[[Book],[Value]],,\table[[DDB],[Rate]],,\table[[Depreciation],[Expense]],],[1-2-2024,18,000,,,,,,,,s,18,000],[12-31-2024,,18,000,x,2(14),=,9,000,$,9,000,,9,000],[12-31-2025,,9,000,\table[[x,,]],2(14),=,2250,,11250,,6750],[12-31-2026,,6750,,,=,1296.88,,12546.88,,5453.12],[12-31-2027,,,,,=,1234.43,,13781.31,,4218.69]]
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