Blue Spruce Company purchased a delivery truck for $31,000 on January 1, 2022. The truck has an expected salvage value of $700, and is expected to be driven 101,000 miles over its estimated useful life of 10 years. Actual miles driven were 16,300 in 2022 and 10,700 in 2023.

(a1)

Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)

Depreciation expense

$enter the depreciation expense in dollars per mile rounded to 2 decimal places

per mile

(a2)

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. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.)

				Depreciation Expense
				2022		2023
(1)		Straight-line method		$enter a dollar amount		$enter a dollar amount
(2)		Units-of-activity method		$enter a dollar amount		$enter a dollar amount
(3)		Declining-balance method		$enter a dollar amount		$enter a dollar amount

(b1)

Assume that Blue Spruce uses the straight-line method. Prepare the journal entry to record 2022 depreciation. (List all debit entries before credit entries. 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 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

Assume that Blue Spruce uses the straight-line method. Show how the truck would be reported in the December 31, 2022, balance sheet.

BLUE SPRUCE COMPANY Partial Balance Sheet choose the accounting period For the Month Ended December 31, 2022For the Year Ended December 31, 2022December 31, 2022
enter a balance sheet item			$enter a dollar amount
select between addition and deduction AddLess:enter a balance sheet item			enter a dollar amount
			$enter a total amount