Question
on January 1, 2021, the Excel Delivery Company purchased a delivery van for $48,000. 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 $48,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 175,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods.
Straight line. $ per year
Double-declining balance
Year depreciation
2021
2022
2023
2025
total of $
Units of production using miles driven as a measure of output, and the following actual mileage:
Year miles depreciation
2021 37000
2022 39000
2023 30000
2025 36000
total of $
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The Practitioners Blueprint To Construction Auditing
Authors: Ron Risner
1st Edition
0894137263, 978-0894137266
