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Little Town Pizza bought a used Ford delivery van on January 2,2018 , for $18,000. The van was expected to remain in service for four
Little Town Pizza bought a used Ford delivery van on January 2,2018 , for $18,000. The van was expected to remain in service for four years (41,750 miles). At the end of its useful life, Little Town management estimated that the van's residual value would be $1,300. The van traveled 13,000 miles the first year, 11,250 miles the second year, 10,250 miles the third year, and 7,250 miles in the fourth year. Read the Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-declining-balance methods, round to the nearest two decimal places after each step of the calculation. For years with $0 depreciation, make sure to enter "0" in the appropriate column.)
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