On April 22, 2023, Pharoah Enterprises purchased equipment for $134,700. The company expects to use...
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On April 22, 2023, Pharoah Enterprises purchased equipment for $134,700. The company expects to use the equipment for 12,000 working hours during its four-year life and that it will have a residual value of $13,500. Pharoah has a December 31 year end and prorates depreciation to the nearest month. The actual machine usage was: 1,600 hours in 2023; 2,900 hours in 2024; 3,600 hours in 2025; 3,000 hours in 2026 ; and 1,100 hours in 2027. Prepare a depreciation schedule for the life of the asset under the units-of-production method. (Round depreciation amount per unit to 2 decimal places, e.g. 2.25 and final answers to 0 decimal places, e.g. 5,276.) End of Year Accum. Depr. Carrying Amount $ $
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