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7) Sunland Company purchased a delivery truck for $36.000 on January , 2022. The truck has an expected salvage value of $6,000 and is expected
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Sunland Company purchased a delivery truck for $36.000 on January , 2022. The truck has an expected salvage value of $6,000 and is expected to be driven 100,000 miles over its estimated useful life of years Actual miles driven were 12,200 in 2022 and 11 200 in 2023 Calculate depreciable cost per mile under units of activity method. (Round answer to 2 decimal places, ag 0.50) Depreciable costs 03 per mile e Textbook and Media List of Accounts Compute depreciation expense for 2022 and 2023 using (1) the straight line method, (2) the units of activity method, and (3) the double-declining balance method, Depreciation Expense 2022 2023 (1) $ Straight line method 3750 3750 12) $ Units of activity method 3360 3660 Double declining balance method $ (3) 9000 675d eTextbook and Media List of Accounts Assume that Sunland uses the straight-line method. Prepare the journal entry to record 2022 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Assume that Sunland uses the straight-line method Show how the truck would be reported in the December 31, 2022, balance sheet Sunland Company Partial Balance Sheet e Textbook and Media List of Accounts Step by Step Solution
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