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Exercise 11-1 Depreciation methods [LO11-2]

On January 1, 2018, the Excel Delivery Company purchased a delivery van for $129,000. At the end of its five-year service life, it is estimated that the van will be worth $13,200. During the five-year period, the company expects to drive the van 386,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 3. Double-declining balance. 4. Units of production using miles driven as a measure of output, and the following actual mileage:

Calculate annual depreciation for the five-year life of the van using double-declining balance. (Do not round your intermediate calculations and round your final answers to nearest whole dollar.)

Calculate annual depreciation for the five-year life of the van using units of production using miles driven as a measure of output, and the following actual mileage. (Do not round your intermediate calculations.)

Year	Miles	Depreciation
2018	84,920
2019	92,640
2020	57,900
2021	77,200
2022	81,060
Total		$0