Exercise 10-7 Linton Company purchased a delivery truck for $31,900on January 1, 2014. The truck has an expected salvage value of $2,200, and is expected to be driven107,100miles over its estimated useful life of10years. Actual miles driven were13,400in 2014 and14,100in 2015.

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

Depreciation expense per mile

$

per mile

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Compute depreciation expense for 2014 and 2015 using the straight-line method, the units-of-activity method, and the double-declining-balance method.(Round answers to 0 decimal places, e.g. 2,125.)

2014	2015
Straight-line method	$	$
Units-of-activity method	$	$
Declining-balance method	$	$

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Assume that Linton uses the straight-line method. Prepare the journal entry to record 2014 depreciation.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Account Titles and Explanation	Debit	Credit

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Assume that Linton uses the straight-line method. Show how the truck would be reported in the December 31, 2014, balance sheet.

LINTON COMPANY PartialBalance Sheet December 31, 2014
	$
AddLess:
$

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