This is question 7

On January 1, 2016, Company C purchased a truck for $81,000. Company C determined that the truck had a salvage value of $7,000 and a life of either 100,000 miles or 4 years. Company C drove the truck 31,000 miles in 2016, 23,000 miles in 2017 and 14,000 miles in 2018. Company C sold the truck for $27,000 cash at the end of 2018. A. Assuming Company C uses the Straight Line method to calculate depreciation, what is the net book value reported at the end of 2018 (before the sale)? B. Assuming Company C uses the Straight Line method to calculate depreciation, what is the gain or loss on sale (be sure to indicate both the amount and whether it is a gain or loss)? C. Assuming Company C uses the Unit of Production method to calculate depreciation, what is the net book value reported at the end of 2018 (before the sale)? D. Assuming Company C uses the Units of Production method to calculate depreciation, what is the gain or loss on sale (be sure to indicate both the amount and whether it is a gain or loss)? Edit View Insert Format Tools Table 12pt Paragraph | B I U A & TV DV $ | :D Question 7 20 pts On January 1, 2016, Company C purchased a truck for $81,000. Company C determined that the truck had a salvage value of $7,000 and a life of either 100,000 miles or 4 years. Company C drove the truck 31,000 miles in 2016, 23,000 miles in 2017 and 14,000 miles in 2018. Company C sold the truck for $27,000 cash at the end of 2018. A. Assuming Company C uses the Straight Line method to calculate depreciation, what is the net book value reported at the end of 2018 (before the sale)? B. Assuming Company C uses the Straight Line method to calculate depreciation, what is the gain or loss on sale (be sure to indicate both the amount and whether it is a gain or loss)? C. Assuming Company C uses the Unit of Production method to calculate depreciation, what is the net book value reported at the end of 2018 (before the sale)? D. Assuming Company C uses the Units of Production method to calculate depreciation, what is the gain or loss on sale (be sure to indicate both the amount and whether it is a gain or loss)? Edit View Insert Format Tools Table 12pt ~ Paragraph | B I U A LV TV B BV