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(Solution) - Little Caesar s Pizza bought a used Nissan delivery van on

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Little Caesar's Pizza bought a used Nissan delivery van on January 2, 20X1, for $15,000. The van was expected to remain in service 4 years (100,000 miles). At the end of its useful life, Little Caesar's officials estimated that the van's residual value will be $3,000. The van traveled 34,000 miles the first year, 28,000 the second year, 18,000 the third year, and 20,000 in the fourth year. Prepare a schedule of depreciation expense per year for the van under the 3 depreciation methods. Show your computations.
Which method best tracks the wear and tear on the van? Which method would Little Caesar's prefer to use for income tax purposes? Explain in detail why Little Caesar's prefers this method

 







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This question was answered on: Jul 11, 2017

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