On January $3,2018,$ Speedway Delivery Service purchased a truck at a cost of $$75,000.$ Before placing the truck in service, Speedway spent $$3,000$ painting it$,$ $$2,500$ replacirg tires, and $$7,500$ overhauling the engine. The truck should remain in service for five years and have a residual value of $$10,000.$ The truck's annual mileage is expected to be $27,000$ miles in each of the first four years and $12,000$ miles in the fifth year$-120,000$ miles in total. In deciding which depreciation method to use, Steven Kittridge, the general manager, requests a depreciation schedule for each of the depreciation methods $($straight$-$line, units$-$ofproduction, and double$-$declining$-$balance$).$

Read the equirements

Requirement $1.$ Prepare a depreciation schedule for each depreciation method, showing asset cost, depreciation expense, accumulated depreciation, and asset book value.

Begin by preparing a depreciation schedule using the straight$-$line method.

Straight$-$Line Depreciation Schedule

$\backslash$table$[[$Date$,$Asset,Depreciation for the Year,$\backslash$table$[[$Accumulated$],[$Depreciation$]],\backslash$table$[[$Book$],[$Value$]]],[\backslash$table$[[$Depreciable$],[$Cost$]],\backslash$table$[[$Useful$],[$Life$]],\backslash$table$[[$Depreciation$],[$Expense$]]],[1-3-2018$