Required information [The following information applies to the questions displayed below.] Speedy Delivery Company purchases a delivery van for $38,400. Speedy estimates that at the end of its four-year service life, the van will be worth $6,200. During the four-year period, the company expects to drive the van 201,250 miles. Actual miles driven each year were 52,000 miles in year 1 and 58,000 miles in year 2. Required: Calculate annual depreciation for the first two years of the van using each of the following methods. (Do not round your intermediate calculations.) 2. Double-declining-balance. Annual Year Depreciation 1 2

[The following information applies to the questions displayed below] On January 1, 2024, the Excel Delivery Company purchased a delivery van for $33,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 100,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods. 1. Straight line. Answer is complete but not entirely correct. Straight-line $ 30,000 per year

Required information [The following information applies to the questions displayed below] On January 1, the Matthews Band pays $69,000 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first-year depreciation using the units-of-production method. Select formula for the depreciation rate of Units of Production: Calculate the first year depreciation expense Depreciation per concert Concerts in first year Depreciation in first year

Murrays Ltd. purchased a new bus for $200,000. The company expects the bus to be used for trips between Sydney and Canberra for 10 years, or 800,000 miles, with an estimated residual value of $30,000 at the end of that time. During the 3rd year the bus was driven 96,000 miles. Calculate the depreciation expense for the 3rd year for each of the methods below. Show your solutions.I. Straight-line II. Diminishing balance at 20% p.a. III. Units-of-activity    Banksia Company completed the following transactions during 2018-2019. The annual accounting period ends 30 June 2019.a) Purchased inventory on credit at cost of AUD 16,800; perpetual inventory system is used.b) Received a customer deposit of AUD 18,000 from ABC Ltd for services to be rendered in the future.c) Borrowed AUD 900,000 from the bank on 1 March 2019 by giving the bank a six-month, 9% interest bearing note payable.d) Performed AUD 8,000 of the services paid for by ABC Ltd; the rest will be rendered in August 2019.e) Received…