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I need it as soon as possible Depreciation for Partial Periods Bar Delivery Company purchased a new delivery truck for $54,000 on April 1, 2019.
I need it as soon as possible
Depreciation for Partial Periods Bar Delivery Company purchased a new delivery truck for $54,000 on April 1, 2019. The truck is expected to have a service life of 5 years or 90,000 miles and a residual value of $3,000. The truck was driven 8,000 miles in 2019 and 20,000 miles in 2020. Bar computes depreciation expense to the nearest whole month. Required: 1. Compute depreciation expense for 2019 and 2020 using the following methods: (Round your answers to the nearest dollar.) a. Straight-line method 2019 $ $ 2020 b. Sum-of-the-years'-digits method 2019 $ 2020 $ c. Double-declining-balance method 2019 $ 2020 $ d. Activity method 2019 $ 2020 $ 2. For each method, what is the book value of the machine at the end of 2019? At the end of 2020? (Round your answers to the nearest dollar.) a. Straight-line method d. Activity method 2019 $ 2020 $ 2. For each method, what is the book value of the machine at the end of 2019? At the end of 2020? (Round your answers to the nearest dollar.) a. Straight-line method 2019 $ 2020 tA b. Sum-of-the-years'-digits method 2019 $ 2020 $ c. Double-declining-balance method 2019 $ 2020 d. Activity method 2019 $ 2020 $ 3. Next Level The book value of the asset in the early years of the asset's service will be under an accelerated method as compared to the straight- line method. The method is appropriate when the service life of the asset is affected primarily by the amount the asset is used. Next > Step by Step Solution
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