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Linton Company purchased a delivery truck for $30,800 on January 1, 2014. The truck has an expected salvage value of $1,700, and is expected to
Linton Company purchased a delivery truck for $30,800 on January 1, 2014. The truck has an expected salvage value of $1,700, and is expected to be driven 108,000 miles over its estimated useful life of 10 years. Actual miles driven were 14,100 in 2014 and 13,000 in 2015. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Compute depreciation expense for 2014 and 2015 using the straight-line method, the units-of-activity method, and the double-declining-balance method. (Round answers to 0 decimal places, e.g. 2,125.) Assume that Linton uses the straight-line method. Prepare the journal entry to record 2014 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Assume that Linton uses the straight-line method. Show how the truck would be reported in the December 31, 2014, balance sheet
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