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3 similar questions. Please show work Molly's Mobile Pet Grooming Service recently purchased a cargo van for $24,900. For depreciation purposes, the van is expected
3 similar questions. Please show work
Molly's Mobile Pet Grooming Service recently purchased a cargo van for $24,900. For depreciation purposes, the van is expected to to have a useful life of 100,000 miles and have a trade-in value of $4500. Molly uses the units-of-production method to calculate depreciation. What is the depreciation per mile? Round to the nearest tenth of a cent when necessary. $ Molly drives her van 25,000 miles in the first year. What is the book value of the van at the end of the first year? What is the annual depreciation in a year when the van is driven 35,000 miles? $ Molly's Mobile Pet Grooming Service recently purchased a cargo van for $28,500. For depreciation purposes the van is expected to to have a useful life of 8 years and have a trade-in value of $3500. Molly uses the double-declining-balance method to calculate depreciation. What is the book value at the end of the first year? $ What is the accumulated depreciation by the end of the second year? $ What is the annual depreciation in the third year? $ Molly's Mobile Pet Grooming Service recently purchased a cargo van for $27,800. For depreciation purposes, the van is expected to have a useful life of 4 years and have a trade-in value of $3000. Molly uses the sum- of-the-years-digits method to calculate depreciation. What is the book value at the end of the first year? $ What is the accumulated depreciation by the end of the second year? $ What is the annual depreciation in the third year? $Step by Step Solution
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