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Linton Company purchased a delivery truck for $31,000 on January 1, 2017. The truck has an expected salvage value of $1,700, and is expected to
Linton Company purchased a delivery truck for $31,000 on January 1, 2017. 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 8 years. Actual miles driven were 12,200 in 2017 and 11,200 in 2018.
i need help getting he declining-balance metohd for 2018
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 0.271 per mile LINK TO TEXT Your answer is partially correct. Try again. Compute depreciation expense for 2017 and 2018 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 2017 2018 (1) Straight-line method 3662.50 3662.50 (2) Units-of-activity method 3306.20 3035.20 (3) Declining-balance method 7750 143.13 LINK TO TEXTStep by Step Solution
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