Lets Check out those Accounting Skills!

Exercise 10-07 a1-b2 Ayayai Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,200, and is expected to be driven 110,000 miles over its estimated useful life of 10 years. Actual miles driven were 16,700 in 2020 and 10,600 in 2021. Your answer is correct. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense .28 per mile SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Your answer is partially correct. Try again. Compute depreciation expense for 2020 and 2021 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.) Depreciation Expense 2020 2021 (1) Straight-line method 3300 3300 (2) Units-of-activity method 4676 2968 (3) Declining-balance method 6600 5280 SHOW LIST OF ACCOUNTS LINK TO TEXTx Your answer is incorrect. Try again. Assume that Ayayai uses the straight-line method. Prepare the journal entry to record 2020 depreciation. (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. Round answers to 0 decimal places, e.g. 2,125.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT x Your answer is incorrect. Try again. Assume that Ayayai uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance sheet. (Round answers to 0 decimal places, e.g. 2,125.) AYAYAI COMPANY Partial Balance Sheet X