Hearty Fried Chicken bought equipment on January 2, 2018, for $39,000. The equipment was expected...
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Hearty Fried Chicken bought equipment on January 2, 2018, for $39,000. The equipment was expected to remain in service for four years and to operate for 8,250 hours. At the end of the equipment's useful life, Hearty estimates that its residual value will be $6,000. The equipment operated for 825 hours the first year, 2,475 hours the second year, 3,300 hours the third year, and 1,650 hours the fourth year. Read the requirements. Requirement 1. Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods: straight-line, units-of-production, and double-declining-balance. Show your computations. Note: Three depreciation schedules must be prepared
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