Question
Woody Delivery Company purchased a new delivery truck for $47,400 on April 1, 2016. The truck is expected to have a service life of 5
Woody Delivery Company purchased a new delivery truck for $47,400 on April 1, 2016. The truck is expected to have a service life of 5 years or 111,600 miles and a residual value of $3,000. The truck was driven 10,200 miles in 2016 and 13,200 miles in 2017. Woody computes depreciation to the nearest whole month.
Compute depreciation expense for 2016 and 2017 using the For interim computations, carry amounts out to two decimal places. Round your final answer to the nearest dollar. Straight-line method
2016 | $ |
2017 | $ |
Sum-of-the-years'-digits method
2016 | $ |
2017 | $ |
Double-declining-balance method
2016 | $ |
2017 | $ |
Activity method
2016 | $ |
2017 | $ |
For each method, what is the book value of the machine at the end of 2016? At the end of 2017? (Round your answers to the nearest dollar.) Straight-line method
2016 | $ |
2017 | $ |
Sum-of-the-years'-digits method
2016 | $ |
2017 | $ |
Double-declining-balance method
2016 | $ |
2017 | $ |
Activity method
2016 | $ |
2017 | $ |
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