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Unit 6 Assignment (5%) Cole Corporation purchased a delivery van on March 19* 2021. Assume this van was the company's only capital asset and that
Unit 6 Assignment (5%) Cole Corporation purchased a delivery van on March 19* 2021. Assume this van was the company's only capital asset and that the company uses the hell year role in the year of acquisition and disposal of capital assets. The following information is available. Estimated usch 5 years or 200,000 km Besday $30,000 The van was driven 20.000 km in 2021 Required: 1. Calculate the depreciation for 2021 under each of the following methods: Usage b. Straight-line c. Double-declining balance 2. Compare the depreciation expense and carrying amount for 2021 under each of these methods. Create a table that clearly shows the depreciation expense and carrying values. 3. one of manageme objectives is to minimize 2021 net income, what method should be adopted
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