[The following information applies to the questions displayed below) University Car Wash built a deluxe...
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[The following information applies to the questions displayed below) University Car Wash built a deluxe car wash across the street from campus. The new machines cost $246,000 including installation. The company estimates that the equipment will have a residual value of $27.000. University Car Wash also estimates it will use the machine for six years or about 12.000 total hours. Actual use per year was as follows: Year 1 2 3 Hours Used 2,800 1,900 2,000 2.000 1.30 1,500 Required: 1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.) UNIVERSITY CAR WASH Depreciation Schedule-Straight-Line End of year amounts Depreciation Accumulated Book Value Expense Depreciation Year $ 2 3 4 5 n 99
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