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Cheyenne Corp purchased a delivery truck for $32,800 on January 1, 2020. The truck has an expected salvage value of $1,800, and is expected to
Cheyenne Corp purchased a delivery truck for $32,800 on January 1, 2020. The truck has an expected salvage value of $1,800, and is expected to be driven 100,000 miles over its estimated usefu Mife of years. Actual miles driven were 15,800 in 2020 and 12,900 in 2021. Calculate depreciation expense per mile under units-of-activity method (Round answer to 2 decimal plocs.g. 050) Depreciation expense S per mile e Textbook and Media List of Accounts Compute depreciation expense for 2020 and 2021 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 0.50 and depreciation rate too decimal plocseg 15. Round final answers to decimal places, e 2125.) Depreciation Expense 2020 2021 (1) Straight-line method $ $ (2) Units-of-activity method s $ (3) Double-declining balance method S $ eTextbook and Media List of Accounts Assume that Cheyenne uses the straight-line method. Prepare the journal entry to record 2020 depreciation. (Credit account tidsor Gutomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tits and art for the amounts Round answers to decimal places, eg 2125) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Assume that Cheyenne uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance sheet. (Round answers to decimal places e 2125.) Cheyenne Corp Partial Balance Sheet S eTextbook and Media List of Accounts
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