Sheffield Company purchased a delivery truck for $$27,000$ on January $1,2022.$ The truck has an expected salvage value of $$1,560,$ and is expected to be driven $106,000$ miles over its estimated useful life of $10$ years. Actual miles driven were $15,600$ in $2022$ and $10,000$ in $2023.$

$($a$1)$

Your answer is correct.

Calculate depreciation expense per mile under units$-$of$-$activity method. $($Round answer to $2$ decimal places, e$.$g$.0\mathrm{.}50.)$

Depreciation expense $enter the depreciation expense in dollars per mile rounded to $2$ decimal places

$0\mathrm{.}24$

Correct answer per mile

eTextbook and Media

List of Accounts

Attempts: $1$ of $5$ used

$($a$2)$

Your answer is partially correct.

Compute depreciation expense for $2022$ and $2023$ 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$.0\mathrm{.}50$ and depreciation rate to $0$ decimal places, e$.$g$.15\%.$ Round final answers to $0$ decimal places, e$.$g$.2,125.)$

Depreciation Expense

$2022$

$2023$

$(1)$

Straight$-$line method

$enter a dollar amount rounded to $0$ decimal places

$2,544$

Correct answer $enter a dollar amount rounded to $0$ decimal places

$2,544$

Correct answer

$(2)$

Units$-$of$-$activity method

$enter a dollar amount rounded to $0$ decimal places

$3,744$

Correct answer $enter a dollar amount rounded to $0$ decimal places

$2,400$

Correct answer

$(3)$

Declining$-$balance method

$enter a dollar amount rounded to $0$ decimal places

$2,700$

Incorrect answer $enter a dollar amount rounded to $0$ decimal places

$2,430$

Incorrect answer

eTextbook and Media

List of Accounts

Attempts: $2$ of $5$ used

$($b$1)$

Assume that Sheffield uses the straight$-$line method. Prepare the journal entry to record $2022$ depreciation. $($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Account Titles and Explanation

Debit

Credit

enter an account title

enter a debit amount

enter a credit amount