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On January 1, 2018, the Excel Delivery Company purchased a delivery van for $63,000. At the end of its five-year service life, it is estimated
On January 1, 2018, the Excel Delivery Company purchased a delivery van for $63,000. At the end of its five-year service life, it is estimated that the van will be worth $6,000. During the five-year period, the company expects to drive the van 190,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. points 1. Straight line. 2. Sum-of-the-years'-digits. 3. Double-declining balance 4. Units of production using miles driven as a measure of output, and the following actual mileage: eBook Hint Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Required 3 Required 4 Calculate annual depreciation for the five-year life of the van using sum-of-the-years' digits. (Do not round your intermediate calculations.) Depreciation Year 2018 2019 2020 On January 1, 2018, the Excel Delivery Company purchased a delivery van for $63,000. At the end of its five-year service life, it is estimated that the van will be worth $6,000. During the five-year period, the company expects to drive the van 190,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. points 1. Straight line. 2. Sum-of-the-years'-digits. 3. Double-declining balance. 4. Units of production using miles driven as a measure of output, and the following actual mileage: eBook Hint Complete this question by entering your answers in the tabs below. Print References Required 1 Required 2 Required 3 Required 4 Calculate annual depreciation for the five-year life of the van using double-declining balance. (Do not round your intermediate calculations and round your final answers to nearest whole dollar.) Year Depreciation 2018 2019 2020
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