Big City Pizza bought a used Ford delivery van on January 2, 2021, for $22,000. The...

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Big City Pizza bought a used Ford delivery van on January 2, 2021, for $22,000. The van was expected to remain in service for four years (80,000 miles). At the end of its useful life, Big City management estimated that the van's residual value would be $2,000. The van traveled 32,000 miles the first year, 28,000 miles the second year, 15,000 miles the third year, and 5,000 miles in the fourth year. Read the requirements. Question Viewer Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. 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.) Year Straight-Line 2021 $ 5,000 2022 5,000 2023 5,000 2024 Total 5,000 20,000 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 places, X.XX, and your final answers to the nearest whole dollar. Complete all input fields. Enter a 0 for any zero balances.) Year 2021 2022 2023 2024 Total UOP Requirements 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 Big City prefer to use for income tax purposes? Explain your reasoning in detail. Print Done - Clear all Check Big City Pizza bought a used Ford delivery van on January 2, 2021, for $22,000. The van was expected to remain in service for four years (80,000 miles). At the end of its useful life, Big City management estimated that the van's residual value would be $2,000. The van traveled 32,000 miles the first year, 28,000 miles the second year, 15,000 miles the third year, and 5,000 miles in the fourth year. Read the requirements. Question Viewer Requirement 1. Prepare a schedule of depreciation expense per year for the van under the three depreciation methods. 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.) Year Straight-Line 2021 $ 5,000 2022 5,000 2023 5,000 2024 Total 5,000 20,000 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 places, X.XX, and your final answers to the nearest whole dollar. Complete all input fields. Enter a 0 for any zero balances.) Year 2021 2022 2023 2024 Total UOP Requirements 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 Big City prefer to use for income tax purposes? Explain your reasoning in detail. Print Done - Clear all Check