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there are 5 parts of it Piccadily Pizza bought a used Ford delivery van on January 2, 2021, for 521,000 . The van was expected
there are 5 parts of it
Piccadily Pizza bought a used Ford delivery van on January 2, 2021, for 521,000 . The van was expected to remain in service for four yoars (47, soo miles). At the end of its usatur lis, Piccasily management estimaled that the varis residual value would be $2,000. The van treveled 15.000 miles the frat year, 10,000 miles the second yest, 12.500 miles the third year, and to, Poo miles in the fourth year. Fead the ceoustements Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depredation methods. Prepare a schedule of depreciation expense per year for the van under the straight ine method. (Conglete at input folibe. Enter a 0 tor any raro balances) Requirements 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-declining-balance methods, round to the nearest two decimal places after each step of the calculation.) 2. Which method best tracks the wear and tear on the van? 3. Which method would Piccadilly prefer to use for income tax purposes? Explain your reasoning in detail Step by Step Solution
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