requirements :

1.prepare a depreciation schedule for each depreciation method, showing asset cost, depression expence, accumulated depreciation, and asset book value.

2. nimble prepares financial statements using the depreciation method that reports the highest net income in the early years of asset use. considered the first year that nimble uses the truck. Identify the depreciation method that meets the companys objectives.

Question Help P9-31A (similar to) On January 2, 2018, Nimble Delivery Service purchased a truck at a cost of $80,000. Before placing the truck in service, Nimble spent $2,200 painting it, $600 replacing tires, and $9,200 overhauling the engine. The truck should remain in service for five years and have a residual value of $8,000. The truck's annual mileage is expected to be 30,000 miles in each of the first four years and 20,000 miles in the fifth year-140,000 miles in total. In deciding which depreciation method to use, Harold Parker, 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. Requirement 1. Prepare a depreciation schedule for each depreciation method, showing asset cost depreciation expense, accumulated depreciation, and asset book value Begin by preparing a depreciation schedule using the straight-line method. Straight-Line Depreciation Schedule Depreciation for the Year Useful Life Asset Depreciable Cost Depreciation Accumulated Boolk ExpenseDepreciation Value Date Cost 1-2-2018 12-31-2018 12-31-2019 12-31-2020 12-31-2021