X Your answer is incorrect. Try again. Assume that Novak uses the straight-line method. Prepare the journal entry to record 2019 depreciation. (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 o for the amounts. Round answers to o decimal places, e.g. 2,125.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS SHOW ANSWER LINK TO TEXT x Your answer is incorrect. Try again. Assume that Novak uses the straight-line method. Show how the truck would be reported in the December 31, 2019, balance sheet. (Round answers to o decimal places, e.g. 2,125.) Novak Corp. Partial Balance Sheet x (To record sale of equipment) (d) (To record depreciation) (To record sale of equipment) Question 5 Novak Corp. purchased a delivery truck for $35,600 on January 1, 2019. The truck has an expected salvage value of $1,600, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2019 and 11,700 in 2020. x Your answer is incorrect. Try again. Calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciable cost per mile SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT x Your answer is incorrect. Try again. Compute depreciation expense for 2019 and 2020 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciable cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to o decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Depreciation Expense 2019 2020 (1) Straight-line method (2) Units-of-activity method (3) Double-declining-balance method SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Yl Your TODO Question 6 Whispering Winds Corp. owns equipment that cost $62,300 when purchased on January 1, 2016. It has been depreciated using the straight-line method based on an estimated salvage value of $4,100 and an estimated useful life of 5 years. Accumulated deprecation was last adjusted on December 31, 2018. Prepare Whispering Winds Corp.'s journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 125. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (a) Sold for $29,920 on January 1, 2019. (b) Sold for $29,920 on May 1, 2019. (c) Sold for $10,800 on January 1, 2019. (d) Sold for $10,800 on October 1, 2019. No. Account Titles and Explanation Debit Credit (a) (b) (To record depreciation) (To record sale of equipment) (c)
