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Flint Company purchased a delivery truck for $29,000 on January 1,2022 . The truck has an expected salvage value of $2,740, and is expected to
Flint Company purchased a delivery truck for $29,000 on January 1,2022 . The truck has an expected salvage value of $2,740, and is expected to be driven 101,000 miles over its estimated useful life of 10 years. Actual miles driven were 16,600 in 2022 and 13,100 in 2023. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense $ per mile Compute depreciation expense for 2022 and 2023 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 0 decimal places, e.g. 15\%. Round final answers to 0 decimal places, e.g. 2,125.) eTextbook and Media Assistance Used eTextbook List of Accounts Assume that Flint uses the straight-line method. Prepare the journal entry to record 2022 depreciation. (List all debit entries before credit entries. 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 0 for the amounts.)
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