Ruralâ??s Pizza bought a used Toyota delivery van on January 2, 2014 for $18,000. The van was expect

Ruralâ??s Pizza bought a used Toyota delivery van on January 2, 2014 for $18,000. The van was expect

Rural’s Pizza bought a used Toyota delivery van on January 2, 2014 for $18,000. The van was expected to remain in service for four year (41,750 miles). At the end of its useful life, Rural’s officials estimated that the van’s residual value would be $1,300. The Van traveled 13,000 miles the first year, 11,250 the second year, 10,250 the third year and 7,250 in the fourth year.Requirements:Prepare a schedule of depreciation expense per year for the van under the the three depreciation methodsWhich method best tracks the wear and tear on the van?Which method would Rural’s prefer to use for income tax purpose? Explain in detail why Rural’s prefers this method.

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