Question
Linton Company purchased a delivery truck for $33,000 on January 1, 2017. The truck has an expected salvage value of $1,900, and is expected to
Linton Company purchased a delivery truck for $33,000 on January 1, 2017. The truck has an expected salvage value of $1,900, and is expected to be driven 108,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,000 in 2017 and 11,300 in 2018.
Calculate depreciation expense per mile under units-of-activity method
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
Please, do not give only the correct answer but also how that answer was arrived at. Thanks
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