HELP

Depreciation Assignment A company purchases a Dodge RAM pickup truck worth $75,000, which it expects to last 6 years and to have a salvage value of $10,000. The company's fiscal year ends Dec 31st, 2021. 1. a) Prepare a schedule of depreciation for the six years using the straight-line method assuming the item was purchased on Jan 1st, 2021. Show formula for first column and Book Value Year Straight-line Depreciation Depreciation Expense Accumulated Depreciation Net Book Value 2021 2022 2023 2024 2025 2026 b) Prepare a schedule of depreciation for the six years using the straight-line method assuming the item was purchased on Aug 1st, 2021. Show formula for first column and Book Value. Year Net Book Value Straight-line Depreciation Depreciation Expense Accumulated Depreciation 2021 2022 2023 2024 2025 2026 2. a) For the same equipment, prepare a schedule of depreciation for the six years using the declining-balance method. The truck was purchased Aug 1 2021. The Canada Customs and Revenue Agency's prescribed rate for depreciation is 40%. Assume full year and 50% rule does not apply. Show formulas for first and last column. Year Declining Balance Depreciation Depreciation Expense Accumulated Depreciation Net Book Value 2021 2022 2023 2024 2025 2026 b) Prepare a schedule of depreciation for the six years using the declining-balance method using the same information and assume full year and 50% rule does apply. Show formulas for first and last column. Year Declining Balance Depreciation Depreciation Expense Accumulated Depreciation Net Book Value 2021 2022 2023 2024 2025 2026 c) Which method would provide the best tax advantage at the end of the fourth year