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Linton Company purchased a delivery truck for $33,000 on January 1, 2017. The truck has an expected salvage value of $1,300, 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 $1,300, and is expected to be driven 109,000 miles over its estimated useful life of 9 years. Actual miles driven were 15,400 in 2017 and 12,500 in 2018.
Linton Company purchased a delivery truck for $33,000 on January 1, 2017. The truck has an expected salvage value of $1,300, and is expected to be driven 109,000 miles over its estimated useful life of 9 years. Actual miles driven were 15,400 in 2017 and 12,500 in 2018. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expenses per mile SHOW LIST OF ACCOUNTS 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 O decimal places, e.g. 15%. Round final answers to O decimal places, e.g. 2,125.) Depreciation Expense 2017 2018 (1) Straight-line method (2) Units-of-activity method (3) Declining-balance method SHOW LIST OF ACCOUNTSStep by Step Solution
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