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question 2

answer both question accurately

Assume you have a flower shop and you bought a delivery van for $35,000. You expect the van to 1 ariain in servica for three years (129,000km). At the end of its useful life, you estimate that the van's residual value will be $170 : You estimate the van will travel 33,000km the first year, 53,000km the second year, and 43,000km the third year Prepare an estimate of the depreciation expense per year for the van under the three deprec ion metho your computations. Which method do you think tracks the useful life cost on the van most closely? How does management d amine which depreciation method to use? Begin by calculating straight-line depreciation expense for each year. (Round the amounts for expense to the nearest whole dollar.) Assume that on January 2, 2019, a Freshly Ground franchise purchased fixtures for $14,900 cash, expecting the fixtures to remain in service five years. The restaurant has depreciated the fixtures on a double-diminishing-balance basis, with $600 estimated residual value. On June 30,2020 , Freshly Ground sold the fixtur for $4,90 Requirements 1. Record the sale of the fixtures. 2. Management is thinking of switching to the straight-line method of depreciation. Do you agree? Why ur why not Requirement 1, Record the sale of the fixtures. Record the depreciation expense on the fixtures for 2020 and then the sale of the fixtures. Record the depreciation expense on the fixtures for the first six months of 2020 . (Record debits first, then credits. Explanations are not required. Round the depreciation expense to the nearest whole dollar.)