Sheridan Company purchased a delivery truck for $32,800 on January 1, 2020. The truck has an expected salvage value of $1,800, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,400 in 2020 and 13,200 in 2021.

Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)

Depreciation expense

$enter Depreciation expense per mile rounded to 2 decimal paces

per mile

Compute depreciation expense for 2020 and 2021 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
				2020		2021
(1)		Straight-line method		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places
(2)		Units-of-activity method		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places
(3)		Double-declining-balance method		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places

Assume that Sheridan uses the straight-line method. Prepare the journal entry to record 2020 depreciation. (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. Round answers to 0 decimal places, e.g. 2,125.)

Account Titles and Explanation	Debit	Credit
enter an account title	enter a debit amount	enter a credit amount
enter an account title	enter a debit amount	enter a credit amount

Assume that Sheridan uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance sheet. (Round answers to 0 decimal places, e.g. 2,125.)

Sheridan Company Partial Balance Sheet choose the accounting period For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020
enter a balance sheet item			$enter a dollar amount
select between addition and deduction AddLess: enter a balance sheet item			enter a dollar amount
			$enter a subtotal of the two previous amounts