Question: explain plz Required information Exercise 11-1 (Static) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, the Excel
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Required information Exercise 11-1 (Static) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On January 1, 2021, 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. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Static) Part 2 2. Double-declining balance. (Round your answers to the nearest whole dollar amount.) Year 2021 2022 2023 2024 2025 Total Depreciation $ 19,800 11,880 7.128 4,277 2.566 S 45,651 Required information Exercise 11-1 (Static) Depreciation methods [LO11-2] [The following information applies to the questions displayed below] On January 1, 2021, 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. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. Exercise 11-1 (Static) Part 3 3. Units of production using miles driven as a measure of output, and the following actual mileage: (Do not round intermediate calculations.) Year 2021 2022 2023 2024 2025 Total Miles Depreciation 22,000 24,000 15.000 20,000 21,000 $ 0 12
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