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Bridgeport Company purchased a delivery truck for $27,000 on January 1, 2022. The truck has an expected salvage value of $1,500, and is expected to
Bridgeport Company purchased a delivery truck for $27,000 on January 1, 2022. The truck has an expected salvage value of $1,500, and is expected to be driven 102,000 miles over its estimated useful life of 10 years. Actual miles driven were 12,800 in 2022 and 14,300 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 $ per mile (b1) Assume that Bridgeport 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.) count Titles and Explanation epreciation Expense Gain on Disposal of Plant Assets Save for Later Debit Credit 2550 2550 (b2) Assume that Bridgeport uses the straight-line method. Show how the truck would be reported in the December 31, 2022, balance sheet. BRIDGEPORT COMPANY Partial Balance Sheet LA $
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