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WileyPLUS Problem 99 On May 1, 2020, Molly's Greenhouse purchased a new delivery truck for $110,000. She paid a $20,000 cash and signed a promissory

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WileyPLUS Problem 99 On May 1, 2020, Molly's Greenhouse purchased a new delivery truck for $110,000. She paid a $20,000 cash and signed a promissory note for the remainder Molly estimates that the delivery truck will have a five year use, or 200,000 kilometres and a residual value of $10,000. Molly's Greenhouse has a December Jl year end. Molly drove the truck 13,000 km in 2020; 36,000 km in 2021; 37,000 in 2022; 35,000 in 2023, and 10,000 in 2024 Prepare depreciation schedules for the life of the asset under the following depreciation methods 1. straight line method 2. double diminishing balance, and 3. units of production method (tour de table amount to female and the final answers to decimal 5,276) 1. STRAIGHT LINE METHOD End of Year Year Depreciable Amount Depreciation Rate Depreciation Een Accumulated Depreciation Carrying Amount 2020 2021 2022 2023 2024 2025 2. DOUBLE-DIMINISHING-BALANCE METHOD End of Year Depreciable Amount Depreciation Rate x Year Vehicles Depreciation Expense Accumulated Depreciation Carrying Amount 2. DOUBLE-DIMINISHING BALANCE METHOD End of Year Depreciable Amount Depreciation Rate Depreciation Expense Accumulated Depreciation Carrying Amount Year Vehicles s 2020 9 2021 2022 2023 2024 2025 % 3. UNITS OF PRODUCTION METHOD End of Year No, of Units Depreciation Amt/Unit Depreciation Expense Accumulated Depreciation Carrying Amount Year Vehicles 2020 2021 2022 2023 2024 SHOW LIST OF ACCOUNTS LINK TO TEXT URCES SHAARDIE PINTEREST MER Prepare yournal entries to record the purchase of the asset on July 1, 2020, and to record depreciation expense on December 31, 2022 under the blessing and method (Chairs are automatically indented when the amount is entered. Do not fent manually. If nowny is wird "Nowy for the account title and enter for the amounts.) Thaile Dit 10 Study SHROW LIST OF ACCOUNTS LITTER What is the carrying amount on December 31, 2003 under the double diminishing balance shod? Houd er to decimals 5,276.) Carrying amount SHOW LIST OF ACCOUNT LINK TO FERT What is the accumulated depreciation amount on December 31, 2023 under the production metho Accumulated depreciation amount SHOW LIST OF ACCOUNTS LINE TO TEXT BE ENG O PM 1/25/20 o E here to search STANDARD VIEW What is the accumulated depreciation amount on December 31, 2023 under the units of production method? Accumulated depreciation amount $ SHOW LIST OF ACCOUNTS LINK TO TEXT What is the carrying value at the end of the ide of the asset under the straight line method? Carrying value SHOW LIST OF ACCOUNTS LINK TO TEXT How does your answer in the immediately preceding question compare to the other two methods? The answers in the immediately preceding question is compared to the other two methods. SHOW LIST OF ACCOUNTS LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential policy set by your instructor Question Attemptst 0 of 3 used SAVE FOR LATE

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