Calculate the annual depreciation charge and ending carrying value of the asset for each of the following fiscal years using the straight-line method

Cortazar Ltd. purchased a used delivery van for $10,000 on June 23, 2015. The van is expected to last for three years and have a residual value of $1,000. The company’s yearend is December 31, and it follows the policy of charging depreciation in partial periods to the nearest whole month of use.

Required: Calculate the annual depreciation charge and ending carrying value of the asset for each of the following fiscal years using the straight-line method:

a. December 31, 2015

b. December 31, 2016

c. December 31, 2017

d. December 31, 2018

find the cost of your paper

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