Prepare a schedule of depreciation? expense, accumulated?depreciation, and book value per year for theequipment under the three depreciation? methods: straight-line,?units-of-production, and? double-declining-balance. Show yourcomputations. ?Note: Three depreciation schedules must beprepared.

2.

Which method tracks the wear and tear on the equipment most?closely?

Mama'sMama's Fried Chicken bought equipment on JanuaryJanuary22, 20182018, for $ 18 comma 000$18,000. The equipment was expectedto remain in service for four years and to operate for 3 comma0003,000 hours. At the end of the equipment's useful life,Mama'sMama's estimates that its residual value will be $ 3 comma000.$3,000. The equipment operated for 300300 hours the first year,900900 hours the second year, 1 comma 2001,200 hours the thirdyear, and 600600 hours the fourth year. Read the requirementsLOADING... . Requirement 1. Prepare a schedule of depreciationexpense, accumulated depreciation, and book value per year for theequipment under the three depreciation methods: straight-line,units-of-production, anddouble-declining-balance. Show yourcomputations. Note: Three depreciation schedules must be prepared.Begin by preparing a depreciation schedule using the straight-linemethod. Straight-Line Depreciation Schedule Depreciation for theYear Asset Depreciable Useful Depreciation Accumulated Book DateCost Cost Life Expense Depreciation Value 1-2-2018 12-31-2018 / =12-31-2019 / = 12-31-2020 / = 12-31-2021 / = Before calculating theunits-of-production depreciation schedule, calculate thedepreciation expense per unit. Select the formula, then enter theamounts and calculate the depreciation expense per unit. ( - ) / =Depreciation per unit ( - ) / = Prepare a depreciation scheduleusing the units-of-production method. Units-of-ProductionDepreciation Schedule Depreciation for the Year Asset DepreciationNumber of Depreciation Accumulated Book Date Cost Per Unit UnitsExpense Depreciation Value 1-2-2018 12-31-2018 x = 12-31-2019 x =12-31-2020 x = 12-31-2021 x = Prepare a depreciation schedule usingthe double-declining-balance (DDB) method. (Enter a "0" for anyitems with a zero value.) Double-Declining-Balance DepreciationSchedule Depreciation for the Year Asset Book DDB DepreciationAccumulated Book Date Cost Value Rate Expense Depreciation Value1-2-2018 12-31-2018 x = 12-31-2019 x = 12-31-2020 = 12-31-2021 =Requirement 2. Which method tracks the wear and tear on theequipment most closely? The ? double-declining-balancestraight-line units-of-production method tracks wear and tear mostclosely.