Question: i need some help with the second table and the remaining requirements! thank you in advance! Question Help On January 1, 2014, Quick Delivery Service


Question Help On January 1, 2014, Quick Delivery Service purchased a truck at a cost of $67,000. Before placing the truck in service, Quick spent $2,200 painting it. $1,200 replacing tires, and $4,300 overhauling the engine. The truck should remain in service for five years and have a residual value of $5,100. The truck's annual mileage is expected to be 20.000 miles in each of the first four years and 12.800 miles in the fifth year-92,000 miles in total. In deciding which depreciation method to use, Harvey Wamer, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining balance) Read the requirements. i Requirements X or cio Sc 1. Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value. 2. Quick prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. Consider the first year that Quick uses the truck. Identify the depreciation method that meets the company's objectives. Print Done Prepare a depreciation schedule using the units-of-production method. (Enter the depreciation per unit to two decimal places, sx.xx.) Units-of-Production Depreciation Schedule Depreciation for the Year Asset Depreciation Number of Depreciation Accumulated Book Date Cost Per Unit Units Expense Depreciation Value 1-1-2014 12-31-2014 12-31-2015 12-31-2016 X 12-31-2017 x 12-31-2018 X Enter any number in the edit fields and then click Check
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