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Calculate the amounts for each of the four years

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Elegant company purchased a new car for 21,000. It expects to use the car for 4 years with an estimated residual value of zero. Elegant expects to drive the car 90,000 miles in 2017, 45,000 in 2018, 60,000 miles in 2019 and 5,000 miles in 2020. For expected miles of 200,000.

Question 1: Using the straight line method of depreciation, calculate the following amounts for each of the four years of expected life on the car:

  • Depreciation expense
  • Accumulated depreciation balance
  • Book value

Reference no: EM132493104

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