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Harlamova29_29 [7]
3 years ago
5

On January 1, 2021, the Excel Delivery Company purchased a delivery van for $51,000. At the end of its five-year service life, i

t 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 each of the following methods.
Business
1 answer:
kherson [118]3 years ago
6 0

Answer:

The answer is "Complete but not absolutely right".

Explanation:

In production technique segments, it should first calculate the cost of fuel per mile and afterward measure the depreciation.

\ per \ mile \ rate =  \frac{\ cost - \ salvage value}{\ Estimated \ mile }

\ estimated \ mile = 171000 \\\\\ per \ mile \ rate = (\$ 51000 - \$ 6000) / 171000  \\\\  \ per \ mile \ rate = $45000 / 171000 = \\\\\ per \ mile \ rate = \$ 0.263157894 per mile

Calculating Depreciation:

\ Depreciation \ expense =  \ per \ mile \ rate \times  \ Mile \ drives

\ Depreciation \ for \ 2021 :  \\\\  \ Mile \ drives \ = 11000 \\\ Depreciation = \$ 0.263157894 * 11000 \\\ Depreciation = \$ 2895

\ Depreciation \ for \ 2022 \ : \\\\\ Miles \ drives = 42000\\\ Depreciation = \$ 0.263157894 * 42000\\ \ Depreciation = $11053 \\\\\ Depreciation \ for \ 2023 \ :\\\\\ Miles \ drives = 43000\\\ Depreciation = \$ 0.263157894 * 43000 \\\ Depreciation = \$ 11316 \\\\\ Depreciation \ for \ 2024 \ :

\ Miles \ drives = 38000\\\ Depreciation  = \$ 0.263157894 * 38000 \\\ Depreciation = \$ 10000 \\\\\ Depreciation \ for \ 2025 \ :\\\\\ Miles \ drives = 39000\\\ Depreciation = \$ 0.263157894 * 39000 \\\ Depreciation = \$ 10263

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