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Exercise 9-7 Cheyenne Corp. purchased a delivery truck for $32,800 on January 1, 2019. The truck has an expected salvage value of $1,800, and is
Exercise 9-7 Cheyenne Corp. purchased a delivery truck for $32,800 on January 1, 2019. The truck has an expected salvage value of $1,800, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,800 in 2019 and 12,900 in 2020. Calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciable costs per mile LINK TO TEXT Compute depreciation expense for 2019 and 2020 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciable cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to o decimal pla 15%. Round final answers to O decimal places, e.g. 2,125.) Depreciation Expense 2019 2020 (1) Straight-line method (2) Units-of-activity method (3) Double-declining-balance method LINK TO TEXT Assume that Cheyenne uses the straight-line method. Prepare the journal entry to record 2019 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 acc and enter o for the amounts. Round answers to 0 decimal places, e.g. 2,125.) Account Titles and Explanation Debit Credit LINK TO TEXT Assume that Cheyenne uses the straight-line method. Show how the truck would be reported in the December 31, 2019, balance sheet. (Round answers to 0 decimal places, e.g. 2, 125.) Cheyenne Corp. Partial Balance Sheet Click if you would like to Show Work for this question: Open Show Work
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