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Restaurant La Jolie Vache purchased equipment on January 1, 2018 for $70,000. The asset is expected to last for four years, at which time the estimated residual value will be $11,000.

Required a) Prepare a table showing the amount of depreciation expense each year, accumulated depreciation to date, and net book value. Restaurant La Jolie Vache uses straight-line depreciation.

Do not enter dollar signs or commas in the input boxes. Round all dollar figure answers to the nearest whole number.

Year	Cost of Long-Term Asset	Depreciation Expense	Accumulated Depreciation to Date	Net Book Value
2018	$70,000	$Answer	$Answer	$Answer
2019	$70,000	$Answer	$Answer	$Answer
2020	$70,000	$Answer	$Answer	$Answer
2021	$70,000	$Answer	$Answer	$Answer

b) The asset was sold for $12,000 on January 1, 2022. Prepare the journal entry to record the sale.

Enter all debit accounts in alphabetical order. Enter all credit accounts in alphabetical order.

Date	Account Title and Explanation	Debit	Credit
Jan 1		Answer
		Answer
			Answer
			Answer
	To record sale of equipment for cash

c) Using the same purchase information at the beginning of the question, complete the table assuming that Restaurant La Jolie Vache used double-declining-balance depreciation.

Year	Net Book Value at the Beginning of the Year	Depreciation Expense	Accumulated Depreciation	Net Book Value at the End of the Year
2018	$Answer	$Answer	$Answer	$Answer
2019	$Answer	$Answer	$Answer	$Answer
2020	$Answer	$Answer	$Answer	$Answer
2021	$Answer	$Answer	$Answer	$Answer

d) Using the same purchase information and residual value at the beginning of the question, assume that the company uses the units-of-production method. The asset can produce one million units. Prepare the depreciation table.

Year	Cost of Long-Term Asset	Units Produced	Depreciation Expense	Accumulated Depreciation	Net Book Value
2018	$70,000	170,000	$Answer	$Answer	$Answer
2019	$70,000	240,000	$Answer	$Answer	$Answer
2020	$70,000	150,000	$Answer	$Answer	$Answer
2021	$70,000	220,000	$Answer	$Answer	$Answer

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