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Larkspur Company purchased a delivery truck for $46,000 on January 1,2020 . The truck was assigned an estimated useful life of 100,000 miles and has
Larkspur Company purchased a delivery truck for $46,000 on January 1,2020 . The truck was assigned an estimated useful life of 100,000 miles and has a residual value of $10,000. The truck was driven 20,000 miles in 2020 and 24,000 miles in 2021. Compute depreciation expense using the units-of-activity method for the years 2020 and 2021. Depreciation expense for 2020$ Depreciation expense for 2021$ Blue Spruce Company had cash sales of $82,460 (including taxes) for the month of June. Sales are subject to 8.5% sales tax. Prepare the entry to record the sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) Sage Hill Company purchased a delivery truck for $55,000 on January 1,2020 . The truck was assigned an estimated useful life of 5 years and has a residual value of $12,200. Compute depreciation expense using the double-declining-balance method for the years 2020 and 2021. Depreciation expense for 2020$ Depreciation expense for 2021$
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