Strategic Alliance STRAIGHT-LINE Strategic Alliance purchased a tractor for $110,000 on January 1. The Useful Life is 5 years and it is estimate that there will be a $10,000 Residual Value. Calculate the depreciation and record the adjusting journal entry for each year. Show all calculations General Journal Page: Post Rer Credit Dune Entry Det TH UNITS OF OUTPUT Strategic Alliance purchased a tractor for $110,000 on January 1. It is estimate that there will be a $10,000 Residual Value and the tractor will be driven 200,000 miles. Calculate the depreciation and record the adjusting journal entry for each year. Show all calculations Hour used each year: Year 1: 50,000 hours Year 2: 30,000 hours Year 3: 35,000 hours Year 4: 50,000 hours Year 5: 35,000 hours General Journal Page: 1 Debat Credit Dute Entry DOUBLE DECLINING BALANCE Strategic Alliance purchased a tractor for $110,000 on January 1. The Useful Life is 5 years and it is estimate that there will be a $10,000 Residual Value. Book Value = Cost - Accumulated Depreciation Ending Accumulated Beginning Depreciation Year Cost Depreciation Value Rate Expense Book Value Book General Journal Page: 1 Ref Debit Credit Y POPUPPE