80.2K

Verified Solution

Link Copied!

Help with these two please. Thank you!

Just answer the first question please. Ignore the second one.

Mobley purchased a used van for use in its business on January 1, 2020. It paid $11,000 for the van. Mobley expects the van to have a useful life of four years, with an estimated residual value of $800 Mobley expects to drive the van 40,000 miles during 2020,25,000 miles during 2021. 11,000 miles in 2022, and 5,600 miles in 2023, for total expected miles of 81,600 Read the resulrements. (Complete all input fields. Enter a "o" for any zero values.) Double-declining-balance method Annual Depreciation Accumulated Expense Depreciation Book Value Year Start 2020 2021 2022 2023 Downey purchased a used van for use in its business on January 1, 2020. It paid $18,000 for the van. Downey expects the van to have a useful life of four years, with an estimated residual value of $1,500. Downey expects to drive the van 24,000 miles during 2020,40,000 miles during 2021.9,000 miles in 2022, and 92,000 miles in 2023, for total expected miles of 165,000 Read the requirements. (Complete all input fields. Enter a "0" for any zero values. Use three decimal places for the depreciation cost per mile) Units-of-production method Annual Depreciation Accumulated Expense Depreciation Book Value Year Start 2020 2021 2022 2023

Answer & Explanation Solved by verified expert

See Answer