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Sunland Company purchased a delivery truck for $36,000 on January 1,2022 . The truck has an expected salvage value of $6,000, and is expected to
Sunland Company purchased a delivery truck for $36,000 on January 1,2022 . The truck has an expected salvage value of $6,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 12,200 in 2022 and 11,200 in 2023. (a1) Your answer is correct. Calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost $ per mile Your answer is 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. Assume that Sunland uses the straight-line method. Prepare the journal entry to record 2022 depreciation expense. (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.)
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