On January 1, 2021, the Excel Delivery Company purchased a delivery van for $45,000. At the end of its five-year service...
On January 1, 2021, the Excel Delivery Company purchased a
delivery van for $45,000. At the end of its five-year service life,
it is estimated that the van will be worth $4,200. During the
five-year period, the company expects to drive the van 136,000
miles.
Required:
Calculate annual depreciation for the five-year life of the van
using each of the following method.
1. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.)
|
Homework Answers
Depreciation per miles = (45000-4200)/136000 =$0.30 per mile
|
Add Answer to:
On January 1, 2021, the Excel Delivery Company purchased a delivery van for $45,000. At the end of its five-year service...
On January 1, 2021, the Excel Delivery Company purchased a delivery van for $45,000. At the end of its five-year service...
On January 1, 2021, the Excel Delivery Company purchased a delivery van for $45,000. At the end of its five-year service life, it is estimated that the van will be worth $4,200. During the five-year period, the company expects to drive the van 136,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 1. Straight line. 2. Double-Declining Balance
On January 1, 2021, the Excel Delivery Company purchased a delivery van for $51,000. At the...
On January 1, 2021, the Excel Delivery Company purchased a
delivery van for $51,000. At the end of its five-year service life,
it is estimated that the van will be worth $6,000. During the
five-year period, the company expects to drive the van 171,000
miles. Required: Calculate annual depreciation for the five-year
life of the van using the Units of production using miles driven as
a measure of output, and the following actual mileage: (Do
not round intermediate calculations.)
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On January 1, 2021, the Excel Delivery Company purchased a
delivery van for $51,000. At the end of its five-year service life,
it is estimated that the van will be worth $6,000. During the
five-year period, the company expects to drive the van 171,000
miles. Required: Calculate annual depreciation for the five-year
life of the van using the Units of production using miles driven as
a measure of output, and the following actual mileage: (Do
not round intermediate calculations.)
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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....
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On January 1, 2018, the Excel Delivery Company purchased a
delivery van for $33,000. At the end of its five-year service life,
it is estimated that the van will be worth $3,000. During the
five-year period, the company expects to drive the van 100,000
miles.
On January 1, 2018, the Excel Delivery Company purchased a delivery van for $33,000. At the end of its five-year service life, it estimated that the van will be worth $3,000. During the five-year period,...
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