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Current Attempt in Progress Marigold Company purchased a delivery truck for $34,000 on January 1, 2020. The truck has an expected salvage value of $3,100,
Current Attempt in Progress Marigold Company purchased a delivery truck for $34,000 on January 1, 2020. The truck has an expected salvage value of $3,100, and is expected to be driven 103,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2020 and 11,700 in 2021. (a1) Your answer has been saved. See score details after the due date. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, eg. 0.50) Depreciation expense 0.30 per mile Your answer has been saved. See score details after the due date. 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, e.g. 0.50 and depreciation rate to O decimal places, e.g. 15%. Round final answers to O decimal places, e.g. 2,125.) Depreciation Expense 2020 2021 (1) Straight-line method 3863 $ (2) Units-of-activity method $ 4830 (3) Declining-balance method $ 38623 3510 8500 $ 6375 Attempts: 1 of 1 used Assume that Marigold uses the straight-line method. Prepare the journal entry to record 2020 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 O for the amounts. Round answers to O decimal places, e.g. 2,125.) Account Titles and Explanation Debit I Credit
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