Assignment task:
On April 22, 2023, Crane Enterprises purchased equipment for $144,900. The company expects to use the equipment for 11,000 working hours during its four-year life and that it will have a residual value of $14,000. Crane has a December 31 year end and prorates depreciation to the nearest month. The actual machine usage was: 1,500 hours in 2023; 2,600 hours in 2024; 3,500 hours in 2025; 2,800 hours in 2026; and 800 hours in 2027. Prepare a depreciation schedule for the life of the asset under the double diminishing-balance method. (Round partial-period depreciation rate to 4 decimal places, e.g. 15.2563% and other answers to 0 decimal places, e.g. 5,276.) Carrying Amount Beginning of Year Depr. Rate Depr. Expense Accum. Depr. Year 2023 2024 2025 2026