On January 1, 2018, Swifty Delivery Service purchased a truck at a cost of $90,000. Before placing the truck in service, Swifty spent $2,500 painting it, $500 replacing tires, and $6,000 overhauling the engine. The truck should remain in service for five years and have a residual value of $9,000. The truck's annual mileage is expected to be 21,000 miles in each of the first four years and 16,000 miles in the fifth year 100,000 miles in total. In deciding which depreciation method to use, Jacob Nealy, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance).

1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. Begin by preparing a depreciation schedule using the straight-line method.

1.2 ) Before completing the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. (Round depreciation expense per unit to two decimal places.)

1.3) Prepare a depreciation schedule using the units-of-production method. (Enter the depreciation per unit to two decimal places).

1.4) Prepare a depreciation schedule using the double-declining-balance (DDB) method. (Round depreciation expense to the nearest whole dollar.)

2.) swiftly prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. Consider the first year that swiftly uses the truck. Identify the depreciation method that meets the companies objectives.

The depreciation method that reports the highest net income in the first year is the ___ method. It produces the ____ Depreciation expense, and therefore the highest net income.

thank you for all help provided

the engine. The truck should remain in service for five years and have a residual value of $0,000. The truek's annual mileape is expected to be 21,000 miles in each of the first four years ind 10,000 miles in the thit year-100,000 miles in total In deciding which depreciasion method to use, Jacob Nealy, the general manager, requests a depreciabion schedule for each of the depreciation methods (straight-ine, unts-of-production, and dowble-declining-balance). Read the requirements Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, acoumusted depreciation, and asset bock value. Begin by preparng a depreciation schedule using the straght line method. Straight-Line Depreciation Schedule Before completing the units-of-producton depreciation vohedule, caloulate the depreosion expense per unit. Select the formula, then enter the amounts and caloulate the depreciabion eipense per unit. (Rlound depreciation expense per unit to two deormal placess) Prepare a deprociation schedule using the units-of production method. (Enter the depreciation per unt to two decimat places. 3(x) ) Prepare a depreciation schedule using the double-decining-balance (DOE) methed. (Round depreciaton esperse to the neareat whole dultar) the engine. The truck should remain in service for five years and have a residual value of 30,000 . The truck's annual mileage is expected to be 21,000 miles in each of ine frost four years mo 10,000 miles in the tth year- 100,000 miles in total. In deciding which depreciation method lo use, Jacob Nealy, the general manaper, requests a depreciabion schedvile for each of the deprediation methods (straight Ine units of production, and double-declining-balance). Read the rovicmerts: Before completing the unts-of-production depreciation schedule, calculate the depredation expense per unit Select the formula, then enter the amourts and caloulate the depreciation expense per unit. (Round depreciation expense per unit to two decimal places.) (1) 1+ * Deprociabon per unit ( 1+ + Prepare a depreciation schedule using the units-of-production method, (Enter the depreciation per unt to two decimal places, $() ) Units-of Production Depreciation Schedule Prepare a depreciation schedie using the double-declinirg-bal ance (ODB) method. (Round deprecaton expense fo the nearest whole dollar) Doutle-Declining-Balance Depreciation Sehedule the truck. lidertify the deprecintion method that mets the componr cobpalvet. meined it prosices the depreciation ewense and therchors the hohest iet income