Required information [The following information applies to the questions displayed below.) On January 1, 2021, the...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $129,000. At the end of its five-year service life, it is estimated that the van will be worth $13,200. During the five-year period, the company expects to drive the van 386,000 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...
Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $75,000. At the end of its five-year service life, it is estimated that the van will be worth $7,800. During the five-year period, the company expects to drive the van 224,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 1. Straight line. Straight-line per year 2....
Required information The following information applies to the questions displayed below.] On January 1, 2021, the Excel Delivery Company purchased a delivery van for $123,000. At the end of its five-year service life, it is estimated that the van will be worth $12,600. During the five-year period, the company expects to drive the van 368,000 miles Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 1. Straight line Straight-line per year On...
Required information (The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $87,000. At the end of its five-year service life. It is estimated that the van will be worth $9,000. During the five-year period, the company expects to drive the van 260,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 3. Units of production using miles driven...
Required information [The following information applies to the questions displayed below 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...
Required information The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $147,000. At the end of its five-year service life, it is estimated that the van will be worth $15,000. During the five-year period, the company expects to drive the van 440,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 1. Straight line. Straight-line per year 2....
Required information The following information applies to the questions displayed below.) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $105,000. At the end of its five. year service life, it is estimated that the van will be worth $10,800. During the five-year period, the company expects to drive the van 314,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 1. Straight line. Straight-line $ 18,840...
Required information (The following information applies to the questions displayed below) 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...
Required information (The following information applies to the questions displayed below) 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. 3. Units of production using miles driven...
Please do part 2+3 Check Required information The following information applies to the questions displayed below) On January 1, 2021, the Excel Delivery Company purchased a delivery van for $99,000. At the end of its five-year service life, it is estimated that the van will be worth $10.200. During the five-year period, the company expects to drive the van 296.000 miles Required: Calculate annual depreciation for the five-year life of the van using each of the following methods 2. Double-declining...