Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. university car wash built a deluxe car wash across

University Car Wash built a deluxe car wash across the street from campus. The new...

70.2K

Verified Solution

Question

Accounting

University Car Wash built a deluxe car wash across the street from campus. The new machines cost $228,000 including installation. The company estimates that the equipment will have a residual value of $24,000. 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 Hours Used
1 3,000
2 1,700
3 1,800
4 2,200
5 2,000
6

1,300

1. Prepare a depreciation schedule for six years using the straight-line method. (Do not round your intermediate calculations.)

2. Prepare a depreciation schedule for six years using the double-declining-balance method. (Do not round your intermediate calculations.)

3. Prepare a depreciation schedule for six years using the activity-based method. (Round your "Depreciation Rate" to 2 decimal places and use this amount in all subsequent calculations.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

OO OO 1 1 6 1 6 1 1 1 6 1 W N 6...

Finance
1.2K views

Fingen's 15?-year, ?$1,000 par value bonds pay 12 percent interest annually. The market price of the...

Statistics
1.2K views

Much of Trail Ridge Road in Rocky Mountain National Park is over 12,000 feet high. Although...

Chemistry
1.2K views

1) What is/are the spectator ion(s) for the following chemical reaction? Check all that apply. Pb(NO3)2(aq) +...

Finance
1.2K views

State of Nature………..Probability…………….State Dependent Return A………….State Dependent Return B Recession……………………..70%................................-0.08………………………………………………-0.04 Expansion.....................30%.................................0.28……………………………………………….0.16 What comes closest to the variance of Stock...

Psychology
1.2K views

1. What are the key elements of a press release? 2. What are the objectives of...

Basic Math
1.2K views

Write the expression in terms of i and simplify 225 0 i

Accounting
1.2K views

All one problem, THANK YOU!! ...

Accounting
1.2K views

Data table - Cash Notes payable Merchandise inventory Paid-in capital $ 12,000 Accounts payable...

Finance
1.2K views

7. Manipulating CAPM Use the basic equation for the capital asset pricing model (CAPM) to...

Accounting
1.2K views

You have been given the following information about the production of Cynthia Co., and are...

Finance
1.2K views

United Technologies (UT) acquired Rockwell Collins (Rockwell) $30 billion, including $7 billion in assumed Rockwell...