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Exercise 9-7 Larkspur, Inc. purchased a delivery truck for $27,600 on January 1, 2019. The truck has an expected salvage value of $1,600, and is
Exercise 9-7 Larkspur, Inc. purchased a delivery truck for $27,600 on January 1, 2019. The truck has an expected salvage value of $1,600, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 14,800 in 2019 and 11,100 in 2020. Your answer is correct. Calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciable cost 0.26 per mile SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Your answer is partially correct. Try again. 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 places, e.g. 15%. Round final answers to O decimal places, e.g. 2,125.) Depreciation Expense 2019 2020 3250 3250 Straight-line method (2) Units-of-activity method 3848 2886 (3) Double-declining-balance method 20700 15525 SHOW LIST OF ACCOUNTS LINK TO TEXT
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