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Information of a delivery van are presented below: Cost $30,000 Transportation 2000 Tax 1500 Expected Salvage value $1,500 Estimated Useful Life 5 Estimated useful life
Information of a delivery van are presented below: Cost $30,000 Transportation 2000 Tax 1500 Expected Salvage value $1,500 Estimated Useful Life 5 Estimated useful life in Miles Date Of Purchase March 1, 2012 YEARS MILES USED YEARS MILES USED 2012 15000 2015 25000 2013 12000 2016 28000 2014 20000 100000 Requirement a. Create a depreciation Schedule under following methods Units of production Method Declining Balance Method b. Show how the Van will be presented in Financial statement in year 2014 and 2015
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