Question
On January 1, 2021, the Excel Delivery Company purchased a delivery van for $53,000. At the end of its five-year service life, it is estimated
On January 1, 2021, the Excel Delivery Company purchased a delivery van for $53,000. At the end of its five-year service life, it is estimated that the van will be worth $5,000. During the five-year period, the company expects to drive the van 150,000 miles. Calculate annual depreciation for the five-year life of the van using Double-Declining-Balance method.
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
