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Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July

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Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2022 for $13,600. They expect to use the Suburban for five years and then sell the vehicle for $5,300. The following expenditures related to the vehicle were also made on July 1, 2022 The company pays $2,200 to GEICO for a one-year Insurance policy The company spends an extra $4,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, An additional $2,400 is spent on a deluxe roof rack and a traller hitch back, and both sides. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition on October 22, 2022, the company pays $1,200 for basic vehicle maintenance related to changing the oll, replacing the windshield wipers, rotating the tires, and inserting a new air filter 3. Prepare a depreciation schedule using the straight-line method. GREAT ADVENTURES End of Year Amounts Depreciation Accumulated Expense Depreciation Book Value Year 2022 2023 2024 2025 2020 2027 Total $ 0

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