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part 1? and part 2, for year 2025? part 3? help please Required information Exercise 11-1 (Algo) Depreciation methods (LO11-2) (The following information applies to

part 1? and part 2, for year 2025? part 3? help please image text in transcribed
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Required information Exercise 11-1 (Algo) Depreciation methods (LO11-2) (The following information applies to the questions displayed below) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $50,000. 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 115,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 1 1. Straight line. Straight-line per year Required information Exercise 11-1 (Algo) Depreciation methods (LO11-2] (The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $50,000. 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 115,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 2 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Year 2021 2022 2023 2024 2025 Total Depreciation $ 20,000 | 12.000 7,200 4.3201 $ 43,520 Required information Exercise 11-1 (Algo) Depreciation methods (LO11-2] The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $50,000. 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 115,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Algo) Part 3 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) Depreciation Year 2021 2022 2023 2024 2025 Total Miles 25,000 27,000 18.000 23,000 24,000

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