Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. Requirements Prepare a schedule of depreciation expense per year for the van under the straight-line method. (Complete all input fields. Enter a 0 for any zero balances.) 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. (For units-of-production and double-declining-balance methods, round to the nearest two decimal places after each step of the calculation.) 2. Which method best tracks the wear and tear on the van? 3. Which method would Lima prefer to use for income tax purposes? Explain your reasoning in detail. Prepare a schedule of depreciation expense per year for the van under the units-of-production (UOP) method. (Round any intermediary computations to two decimal p ny zero balances.) Requirement 2. Which method best tracks the wear and tear on the van? The method tracks the wear and tear on the van most closely. Requirement 3. Which method would Lima prefer to use for income tax purposes? Explain your reasoning in detail
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