Sunshine Taxi Company purchased a taxi on October 1, 2018, for $8,500. The taxi was expected to have a useful life of 5 years, or 102,500 miles, and a residual value of $300. The taxi was driven for 5,800 miles during 2018; 24,600 miles during 2019; 23,200 miles during 2020; 22,500 miles during 2021; 19,300 miles during 2022; and 12,400 miles during 2023.

a.)

Complete the following depreciation schedule for the taxi, assuming Sunshine Taxi Company uses the straight-line method to calculate depreciation expense. (Use Final Exam Problem #2 Template)

Year	Cost	Cost - Residual	Depreciation Expense	Accumulated Depreciation
2018
2019
2020
2021
2022
2023

b.)

Complete the following depreciation schedule for the taxi, assuming Sunshine Taxi Company uses the units-of-production method to calculate depreciation expense. (Use Final Exam Problem #2 Template)

Accumulated Depreciation

Book Value

Year	Cost	# of Miles	Depreciation Expense
2018
2019
2020
2021
2022
2023

c.)

Complete the following depreciation schedule for the taxi, assuming Sunshine Taxi Company uses the declining-balance method at twice the straight-line rate to calculate depreciation expense. (Use Final Exam Problem #2 Template)

Year	Cost	Accumulated Depreciation Beg. of Year	Book Value Beg. of Year	Kate	Depreciation Expense	Accumulated Depreciation End of Year	Book Value End of Year
2018
2019
2020
2021
2022
2023

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