Problem:
Jan 1 - ABC bought company car for 35,000 which will be replaced in 4 years with a salvage value of 10,000.
Required:
Question 1: Prepare the depriciation table using the straight line method the double declining balance method.
Question 2: What will the depreciation expense be if the car will last 200,000 miles and was driven only 25,000.
Note: Please provide through step by step calculations.