Required Information Problem 7-58 Determine depreciation under three methods (L07-4) [The following information applies to...
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Required Information Problem 7-58 Determine depreciation under three methods (L07-4) [The following information applies to the questions displayed below.] Cheetah Copy purchased a new copy machine. The new machine cost $124.000 including installation. The company estimates the equipment will have a residual value of $31.000. Cheetah Copy also estimates it will use the machine for four years or about 8.000 total hours. Actual use per year was as follows: Hours Used 2,000 Year 1 2 3 4 2,eee 2,080 3, eee Problem 7-5B Part 2 2. Prepare a depreciation schedule for four years using the double-declining-balance method. (Hint: The asset will be depreciated in only two years.) (Do not round your Intermediate calculations.) CHEETAH COPY Depreciation ScheduleDouble-Declining-Balance End of Year Amounts Year Depreciation Accumulated Book Value Expense Depreciation 1 2 3 4 Total s
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