On January 3, 2018, Speedy Delivery Service purchased a truck at a cost of $75,000. Before placing the truck in service, Speedy spent $4,000 painting it, $2,500 replacing tires, and $6,500 overhauling the engine. The truck should remain in service for five years and have a residual value of $10,000. The truck's annual mileage is expected to be 27,000 miles in each of the first four years and 12,000 miles in the fifth year-120,000 miles in total. In deciding which depreciation method to use, Harold Parker, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units of production, and double declining balance). Read the requirements Requirement 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 Accumulated Depreciation Book Value Straight-Line Depreciation Schedule Depreciation for the Year Asset Depreciable Useful Depreciation Date Cost Cost Expense 1-3-2018 12-31 2018 12-31-2019 12-31-2020 Choose from any list or enter any number in the input fields and then continue to the next question. On January 3, 2018, Speedy Delivery Service purchased a truck at a cost of $75,000. Before placing the truck in service, Speedy spent $4,000 painting it, $2,500 replacing tires, and $6,500 overhauling the engine. The remain in service for five years and have a residual value of $10,000. The truck's annual mileage is expected to be 27.000 miles in each of the first four years and 12,000 miles in the fifth year 120,000 miles in total In which depreciation method to use, Harold Parker, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units of production, and double declining balance) Read the requirements 17-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022 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 per unit to two decimal places.) Depreciation per unit Prepare a depreciation schedule using the units-of-production method. (Enter the depreciation per unit to two decimal places, $X.XX.) Units-of-Production Depreciation Schedule Choose from any list or enter any number in the input fields and then continue to the next question. On January 3, 2018, Speedy Delivery Service purchased a truck at a cost of $75,000. Before placing the truck in service, Speedy spent $4.000 pointing replacing tires and 56.500 overhauling the engine. The truck should remain in service for five years and have a residual value of $10,000. The truck's annual mileage is expected to be 27,000 miles in each of the first fou n d 12.000 miles in the fifth year 120,000 miles in total In deciding which depreciation method to use, Harold Parker, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line units of production, and double-declining balance) Read the requirements VI-UNTILULILIT Jure Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Book Date Cost Per Unit Expense Depreciation Value 13-2018 12-01-2018 12-31 2019 12-31-2020 12-31-2021 12-31-2022 Units Prepare a depreciation schedule using the double-declining balance (D0B) method. (Round depreciation expense to the newest whole dollar) Choose from any list or enter any number in the input fields and then continue to the next question On January 3, 2018, Speedy Delivery Service purchased a truck at a cost of $75,000. Before placing the truck in service, Speedy spent $1,000 painting it, $2,500 replacing tires, and S6,500 overhauling the engine. The truck should remain in service for five years and have a residual value of $10,000. The truck's annual mileage is expected to be 27,000 miles in each of the first four years and 12,000 miles in the fifth year- 120.000 miles in tota In deciding which depreciation method to use, Harold Parker, the general manager requests a depreciation schedule for each of the depreciation methods (straight line, units of production, and double-declining balance) Read the requirements Asset Book Depreciation for the Year DDB Depreciation Rate Expense Accumulated Depreciation Book Value Cost Value Date 1-3-2018 12-31-2018 12 31 2019 12-31-2020 12-31-2021 12-31-2022 Requirement 2. Speedy 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 Speedy uses the truck. Identify the depreciation method that meets the company's objectives. Choose from any list or enter any number in the input fields and then continue to the next