Looking to expand its operation, Nisha's Canning Co. invested in new testing equipment for its operation on January 3, 2017 , for a total purchase price of $38,000

They expected the equipment would be able to test cans for 5 years, or a total of 6,620 tests. Nisha's Canning Co. estimated the residual value of the equipment to be $5,600

Nisha's Canning Co. used the equipment as follows:

Year 1 430 tests
Year 2 1,960 tests
Year 3 2,270 tests
Year 4 1,150 tests
Year 5 810 tests

Prepare a schedule of depreciation expense, accumulated depreciation, and book value per year for the equipment under the three depreciation methods.

Note: Input rates as the decimal value.

Straight-Line Depreciation Schedule

		Depreciation for the Year
Date	Asset Cost	Depreciable Cost	Depreciation Rate	Depreciation Expense	Accumulated Depreciation	Book Value
01/03/17	$38,000					$38,000
12/31/17
12/31/18
12/31/19
12/31/20
12/31/21

Units-of-Production Depreciation Schedule

		Depreciation for the Year
Date	Asset Cost	Depreciation per Unit	Number of Units	Depreciation Expense	Accumulated Depreciation	Book Value
01/03/17	$38,000					$38,000
12/31/17
12/31/18
12/31/19
12/31/20
12/31/21

Double-Declining Balance Depreciation Schedule

		Depreciation for the Year
Date	Asset Cost	Book Value	DDB Rate	Depreciation Expense	Accumulated Depreciation	Book Value
01/03/17	$38,000					$38,000
12/31/17
12/31/18
12/31/19
12/31/20
12/31/21