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On April 22,2023, Ivanhoe Enterprises purchased equipment for $134,400. The company expects to use the...

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Accounting

On April 22,2023, Ivanhoe Enterprises purchased equipment for $134,400. The company expects to use the equipment for 11,500 working hours during its four-year life and that it will have a residual value of $12,500. Ivanhoe has a December 31 year end and pro-rates depreciation to the nearest month. The actual machine usage was: 1,700 hours in 2023; 2,600 hours in 2024; 3,500 hours in 2025; 3,000 hours in 2026; and 900 hours in 2027.Prepare a depreciation schedule for the life of the asset under the double diminishing-balance method. (Round partial-period depreciation rate to 4 decimal palces, e.g.15.2563% and other answers to 0 decimal places, e.g.5,276.)

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