Riverbed Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,760, and is expected to be driven 108,000 miles over its estimated useful life of 10 years. Actual miles driven were 16,800 in 2020 and 12,600 in 2021. (a1) Your answer has been saved. See score details after the due date. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense $ per mile Attempts: 1 of 1 used (a2) Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Depreciation Expense 2020 2021 (1) Straight-line method $ $ (2) Units-of-activity method $ $ (3) Declining-balance method $ $
Riverbed Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,760, and is expected to be driven 108,000 miles over its estimated useful life of 10 years. Actual miles driven were 16,800 in 2020 and 12,600 in 2021. (a1) Your answer has been saved. See score details after the due date. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense $ per mile Attempts: 1 of 1 used (a2) Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Depreciation Expense 2020 2021 (1) Straight-line method $ $ (2) Units-of-activity method $ $ (3) Declining-balance method $ $
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...
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Riverbed Company purchased a delivery truck for $33,000 on January 1, 2020. The truck has an expected salvage value of $2,760, and is expected to be driven 108,000 miles over its estimated useful life of 10 years. Actual miles driven were 16,800 in 2020 and 12,600 in 2021.
(a1)
Your answer has been saved. See score details after the due date.
Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)
Depreciation expense | $ | per mile |
Attempts: 1 of 1 used
(a2)
Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.)
Depreciation Expense
|
||||||
2020
|
2021
|
|||||
(1) | Straight-line method | $ | $ | |||
(2) | Units-of-activity method | $ | $ | |||
(3) | Declining-balance method | $ | $ |
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