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Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4) [The following...

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Accounting

Problem 7-5A (Algo) Determine depreciation under three methods (LO7-4)
[The following information applies to the questions displayed below.]
University Car Wash purchased new soap dispensing equipment that cost $225,000 including installation. The company estimates that the equipment will have a residual value of $22,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows:
\table[[Year,Hours Used],[1,3,100],[2,1,600],[3,1,700],[4,2,300],[5,2,100],[6,1,700]]
Problem 7-5A (Algo) Part 2
2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)
Answer is complete but not entirely correct.
UNIVERSITY CAR WASH
\table[[UNIVERSITY CAR WASH],[Depreciation Schedule-Double-Declining-Balance],[End of Year Amounts],[Year,,\table[[eciation],[oense]],\table[[Accumulated],[Depreciation]],Book Value],[1,$,75,000,75,000,150,000
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