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Kinney Company purchased a truck for exist57,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of

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Kinney Company purchased a truck for exist57,000. The company expected the truck to last four years or 100,000 miles, with an estimated residual value of exist6,000 at the end of that time. During the second year the truck was driven 27,000 miles. Compute the depreciation for the second year under each of the methods below and place your answers in the blanks provided. Units-of-activity Double-declining-balance Megan's Word Processing Service uses the straight-line method of depreciation. The company's fiscal year end is December 31. The following transactions and events occurred during the first three years. ______ July 1 Purchased a computer from the Computer Center for exist3, 500 cash plus sales tax of exist305, and shipping costs of exist250. Nov. 3 Incurred ordinary repairs on computer of exist240. Dec. 31 Recorded 2009 depreciation on the basis of a four-year life and estimated salvage value of exist455 ______ Dec. 31 Recorded 2010 depreciation. ______ Jan. 1 Paid exist1, 800 for a major upgrade of the computer. This expenditure expected to increase the operating efficiency and capacity of the computer

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