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please show how its solved thanks Chubbyville purchases a delivery van for $24,300, Chubbyville estimates a four-year service life and a residual value of $2,300.
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Chubbyville purchases a delivery van for $24,300, Chubbyville estimates a four-year service life and a residual value of $2,300. During the four-year period, the company expects to drive the van 105,000 miles. Calculate annual depreciation for the four-year life of the van using each of the following methods. 1. Straight-line. Depreciation expense 2. Double-declining balance (Round your depreciation rate to 2 decimal places. Round your final answers to the nearest whole dollar) End of Year Amounts Depreciation Accumulated Expense Depreciation Year Book Value 1 2 3 4 2. Double-declining balance. (Round your depreciation rate to 2 decimal places. Round your final answers to the nearest whole dollar.) End of Year Amounts Depreciation Accumulated Expense Depreciation Year Book Value 1 2 3 4 Total $ 0 3. Actual miles driven each year were 19,000 miles in Year 1: 30,000 miles in Year 222,000 miles in Year 3; and 25,000 miles in Year 4. Note that actual total miles of 96,000 fall short of expectations by 9,000 miles Calculate annual depreciation for the four-year life of the van using activity based. (Round your depreciation rate to 2 decimal places.) End of Year Amounts Depreciation Accumulated Expense Depreciation Year Book Value 1 2. 3. Actual miles driven each year were 19,000 miles in Year 1: 30,000 miles in Year 2, 22,000 miles in Year 3; and 25,000 miles In Year 4. Note that actual total miles of 96,000 fall short of expectations by 9,000 miles. Calculate annual depreciation for the four-year life of the van using activity-based (Round your depreciation rate to 2 decimal places.) End of Year Amounts Depreciation Accumulated Expense Depreciation Year Book Value 1 2 3 4 Total $ 0 Step by Step Solution
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