Carrie Heffeman Company purchased a delivery van on January 1,2013, for $50,000. The van was expected to remain in service 4 years (or 100,000 miles) and has a residual value of $5,000. The van traveled 30,000 miles the first year, 25,000 miles the second year, and 22,500 miles in the third and fourth years. Required: Prepare a schedule of depreciation expense per year for the first four years of the asset's life using the straight-line method, units-of-production method, and double-declining-balance method. Prepare a schedule of the book value of the van for each of the four years using the straight-line method, units-of-production method and double-declining-balance method. A computer, with a cost of $10,000 is sold on July 1. Accumulated depreciation up to the date of sale is $5,000. Journalize the entries for the disposal of the computer under the following INDEPENDENT scenarios: The computer was sold for $6,000. The computer was sold for $ 1,000. The computer is obsolete and was thrown in the trash. The Best Diamond Company purchased mineral rights on a diamond mine in 2014 for a price of $7,000,000. In addition to the purchase price, the Best Diamond Company paid $100,000 for a geological survey and $20,000 for a license fee to the country where the mine is located. It is estimated that there will be no residual value when fully depleted. During the first year of mining. Best Diamond extracted 50,000 carats of diamonds and in 2015, the company extracted 250,000 carats of diamonds. It is estimated that the mine contains 1,000,000 carats of diamonds. Assume the diamonds were not sold after they were extracted. Required: Prepare the journal entry without explanations to: Record the purchase of the mineral rights with a note payable. Record depletion for 2014. Record depletion for 2015