On January 2, 2018, Ouick Delivey Servico purchasod a truck at a cost of 580,000 . Before placing the truck in sorvico, Quick spent 53,000 painting it, se00 replacing fires, and $5,400 overhauling the engine. The truck should temain in service for five years and have a residual value of $9,000. The truck's annual milesge is expected to be 21,000 mies in kach of the firsi four years and 16,000 miles in the fitth year 100,000 mies in total in dociding which depreciation method to use, Micen Haistum, the generai manago, roquests a deprociation schodule for each of the deprooision mothods (straight-line, units-of-production, and dowiededining thatanot). Pead the recuiventants Requirement 1. Prepare a deprocabon schedule for sach deceeciabon memod, thowing assot cost, depreciaton axponse, accumulated depreclation, and assof bock valun Begn by prepyreg a depteciafion schedule vsing the straighellee niethod. Read the requiremonts: On January 2, 2018, Cuick Delvery Service purchased a truck at a cost of $90,000. Before placing the truck in service, Quick spent $3,000 painting it, s600 replacing tires, and $5,400 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 frist four years and 16,000 miles in the fith year 100,000 miles in total. In deciding which depreciation method to use, Mich Halstron, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-talance) Read the requiemens. Before completing the units-of-production depreciation schedule, calculate the depreciation expense per unit Select the formula, then enter the amounts and caicilate the depreciation expense per une. (Round depreciation expense per unit to two decimal places.) Phapare a depreciation schedule using the units-of production method. (Enter the depreciation per unit to two decimal places, $ ) On January 2, 2018, Quick Delvery Service purchased a truck at a cast of $90,000. Before placing the truck in service, Quick spent $3,000 painting it, \$600 rep tros, and $5,400 overhaling 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 ex to be 21,000 miles in each of the first four years and 16,000 miles in the fith year- 100,000 miles in total. In deciding which depreciation method to use, Mitch Halstrom, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance)
