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Depreciation for Partial Periods Norman Delivery Company purchased a new delivery truck for $ 5 1 , 0 0 0 on April 1 , 2
Depreciation for Partial Periods
Norman Delivery Company purchased a new delivery truck for $ on April The truck is expected to have a service life of years or miles and a residual value of $ The truck was driven miles in and miles in Norman computes depreciation expense to the nearest whole month.
Required:
Compute depreciation expense for and using the following methods: Round your answers to the nearest dollar.
Straightline method
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Sumoftheyears'digits method
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Doubledecliningbalance method
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Activity method
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For each method, what is the book value of the machine at the end of At the end of Round your answers to the nearest dollar.
Straightline method
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$ fill in the blank
Sumoftheyears'digits method
$ fill in the blank
$ fill in the blank
Doubledecliningbalance method
$ fill in the blank
$ fill in the blank
Activity method
$ fill in the blank
$ fill in the blank
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