Speed, Inc., is a shipping company. On 1/1/20, the company purchases a new commercial sleeper truck for $870,000 cash. The expected residual value of the truck is $40,000 and the expected useful life is 10 years. The company estimates that the truck will be used to drive 1,000,000 miles over its useful life (110,000 miles in 2020; 90,000 miles in 2021 & all subsquent years).

For the units-of-activity method, round the depreciaiton-per-unit to two decimal places before using it.

PART A - STRAIGHT LINE DEPRECIATION

PART A - STRAIGHT LINE DEPRECIATION

Income Statement Depreciation Expense	Year Ended 12/31/2020 fill in the blank 1	Year Ended 12/31/2021 fill in the blank 2
Balance Sheet Accumulated Depreciation	As of 12/31/2020 fill in the blank 3	As of 12/31/2021 fill in the blank 4

PART B - UNITS-OF-ACTIVITY DEPRECIATION

Income Statement Depreciation Expense	Year Ended 12/31/2020 fill in the blank 5	Year Ended 12/31/2021 fill in the blank 6
Balance Sheet Accumulated Depreciation	As of 12/31/2020 fill in the blank 7	As of 12/31/2021 fill in the blank 8

PART C - DOUBLE-DECLINING BALANCE DEPRECIATION

Income Statement Depreciation Expense	Year Ended 12/31/2020 fill in the blank 9	Year Ended 12/31/2021 fill in the blank 10
Balance Sheet Accumulated Depreciation	As of 12/31/2020 fill in the blank 11	As of 12/31/2021 fill in the blank 12