You Purchase a van for $50,000 You estimate the van to last 4 years and to have a salvage value of $10,000 You also estimate to operate the van for 200,000 miles During the first year you drive the van 70,000 miles What is the depreciation expense for year 1 using the straight line method of depreciation Answer You Purchase a van for $50,000 You estimate the van to last 4 years and to have a salvage value of $10,000 You also estimate to operate the van for 200,000 miles During the first year you drive the van 70,000 miles What is the depreciation expense for year 1 using the Units of Production method of depreciation Answer You Purchase a van for $50,000 You estimate the van to last 4 years and to have a salvage value of $10,000 You also estimate to operate the van for 200,000 miles During the first year you drive the van 70,000 miles What is the depreciation expense for year 1 using the Double Declining Balance method of depreciation Answer Match the correct Double Declining Balance Rates with the correct estimated life spans 10 Years Answer 1Choose 100 20 10 50 40 5 Years Answer 2Choose 100 20 10 50 40 4 Years Answer 3Choose 100 20 10 50 40 2 Years Answer 4Choose 100 20 10 50 40 20 Years Answer 5 (All of them go from 10,20, 40, 50 ,100 )

Question

You Purchase a van for $50,000  You estimate the van to last 4 years and to have a salvage value of $10,000  You also estimate to operate the van for 200,000 miles  During the first year you drive the van 70,000 miles  What is the depreciation expense for year 1 using the straight line method of depreciation  Answer  You Purchase a van for $50,000  You estimate the van to last 4 years and to have a salvage value of $10,000  You also estimate to operate the van for 200,000 miles  During the first year you drive the van 70,000 miles  What is the depreciation expense for year 1 using the Units of Production method of depreciation  Answer  You Purchase a van for $50,000  You estimate the van to last 4 years and to have a salvage value of $10,000  You also estimate to operate the van for 200,000 miles  During the first year you drive the van 70,000 miles  What is the depreciation expense for year 1 using the Double Declining Balance method of depreciation  Answer  Match the correct Double Declining Balance Rates with the correct estimated life spans  10 Years Answer 1Choose   100  20  10  50  40   5 Years Answer 2Choose   100  20  10  50  40   4 Years Answer 3Choose   100  20  10  50  40   2 Years Answer 4Choose   100  20  10  50  40   20 Years Answer 5 (All of them go from 10,20, 40, 50 ,100 )

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You Purchase a van for $50,000. You estimate the van to last 4 years and to have a salvage value of $10,000. You also estimate

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10 Years	Answer 1Choose...100 %20 %10 %50 %40 %
5 Years	Answer 2Choose...100 %20 %10 %50 %40 %
4 Years	Answer 3Choose...100 %20 %10 %50 %40 %
2 Years	Answer 4Choose...100 %20 %10 %50 %40 %
20 Years	Answer 5