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I got mostly everything done besides the Units of Activity Method part and also the journal entries for question 14. Instructions Answer the following questions

I got mostly everything done besides the Units of Activity Method part and also the journal entries for question 14. image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Instructions Answer the following questions regarding this problem. Don't use $ in the answers. Jay Company purchased a delivery truck for $67,000 on January 1, 2018. The truck has an expected salvage value of $3,000 and is expected to be driven 110,000 miles over its estimated useful life of 8 years. Actual miles driven were 14,000 in 2018 and 12,000 in 2019 and 4,000 in 2020. The delivery truck is then sold on July 1, 2020 for $50,000 cash. Question 1 1/1 pts Using straight-line method compute depreciation expense for 2018. 8,000 Correct! Question 2 1/1 pts Using straight-line method compute depreciation expense for 2019. 8,000 Correct! Question 3 1/1 pts Compute the accumulated depreciation for December 31, 2019 using the straight- line method. 16,000 Correct! Question 4 1/1 pts Compute the book value for December 31, 2019 using the straight-line method. 51,000 Correct! Question 5 1/1 pts Using double-declining balance method compute depreciation expense for 2018. 16,750 Correct! Question 6 1/1 pts Using double-declining balance method compute depreciation expense for 2019. 12,562.5 Correct! Question 7 1/1 pts Compute the accumulated depreciation for December 31, 2019 using the double- declining balance method. 29,312.5 Correct! Question 8 1/1 pts Compute the book value for December 31, 2019 using the double-declining balance method. 37,687.5 Correct! Incorrect Question 9 0/1 pts Using units-of-activity method compute depreciation expense for 2018. 8,145.45 Correct! Incorrect Question 10 0/1 pts Using units-of-activity method compute depreciation expense for 2019. 6,981.82 Correct! Question 11 1/1 pts Compute the accumulated depreciation for December 31, 2019 using the units-of- activity method. 2,327.27 Correct! Incorrect Question 12 0/1 pts Compute the book value for December 31, 2019 using the units-of-activity method. Correct! Question 14 Not yet graded / 84 pts Journalize the two (2) necessary transactions for the $50,000 cash sale of the truck on July 1, 2020, if Jay Company used the straight-line method for depreciation. List the debits first for each transaction. Jul 1, 2020 Jul 1, 2020

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