On January 1, 2021, the Excel Delivery Company purchased a delivery van for $153,000. At the end of its five-year service life, it is estimated that the van will be worth $15,600. During the five-year period, the company expects to drive the van 458,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Answer is complete but not entirely correct. Year 2021 2022 2023 2024 2025 Total Depreciation $ 61,200 36,720 22,032 13,219 7,932 $ 141,103 1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “On January 1, 2021, the Excel Delivery Company purchased a delivery van for $153,000. At the end of its five-year service life, it is ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following statements does not describe a motivation by the buyer or seller in the acquisition or sale of a company?
Answers (1)
The Tobler Company had budgeted production for the year as follows: Quarter 1 2 3 4 Production in units 10,000 9,000 13,000 11,000 4 pounds of raw materials are required for each unit produced.
Answers (1)
KYZ, Inc., a U. S. firm, sends its manager, Ryan, to London to manage its operations there. Ryan's salary is still based on the U. S.
Answers (1)
MaryAnne is always late to meetings and she knows she needs to be better about being on time because it is expected by almost everyone living in the United States. This attitude toward time is an example of a a. folkway. b. moral. c. value. d. mores.
Answers (1)
Differences between chain stores and departm ental stores
Answers (1)
New Questions in Business
Adel wrote Abdullah, "I will sell you my house and lot at 419 West Lombard Street, San Francisco, California for $950,000 payable upon merchantable deed, deal to be completed within 60 days of the date of your acceptance.
Answers (1)
Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models.
Answers (1)
When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off. a. true b. false?
Answers (1)
The price for cigarettes sold by Big Tobacco Co Ltd was 6.00 per packet in March 2018. During the month of March, the consumption of cigarettes was 1000 packets.
Answers (1)
Services had net income for the month of October of $ 23 comma 040. Assets as of the beginning and end of the month totaled $ 369 comma 000 , and $ 399 comma 000 , respectively. Calculate Matured Water Services' ROA for the month of October.
Answers (1)