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answer all 4 parts TB EX Qu. 7-198 Chubbyville purchases a delivery van... Chubbyville purchases a delivery van for $23,400, Chubbyville estimates a four-year service

answer all 4 parts
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TB EX Qu. 7-198 Chubbyville purchases a delivery van... Chubbyville purchases a delivery van for $23,400, Chubbyville estimates a four-year service life and a residual value of $1,800, During the four-year period, the company expects to drive the van 105,000 miles. Calculate annual depreciation for the four-year life of the van using each of the following methods 1. Straight-line 00:10:14 Depreciation expense $5.400 2. Double-declining balance. (Round your depreciation rate to 2 decimal places. Round your final answers to the nearest whole dollar) Year End of Year Amounts Depreciation Accumulated Expense Depreciation Book Value 1 2 3 4 Total $ 0 Year End of Year Amounts Depreciation Accumulated Expense Depreciation Book Value 7 1 2 3 4 Total $ 0 0:17:56 3. Actual miles driven each year were 19,000 miles in Year 1; 29,000 miles in Year 2: 21,000 miles in Year 3, and 25,000 miles in Year 4 Note that actual total miles of 94,000 fall short of expectations by 11,000 miles Calculate annual depreciation for the four-year life of the van using activity based (Round your depreciation rate to 2 decimal places.) Year End of Year Amounts Depreciation Accumulated Expenso Depreciation Book Value 1 2 3 4 Total $ 0

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