Sunland Company purchased a delivery truck for $36,000 on January 1, 2022. The truck has an expected salvage value of $6,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 12,200 in 2022 and 11.200 in 2023 Calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, e.g.0.50.) Depreciable cost eTextbook and Media List of Accounts (1) Compute depreciation expense for 2022 and 2023 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (2) (3) Straight-line method Units-of-activity method Double-declining-balance method eTextbook and Media 03 List of Accounts per mile $ 2022 Depreciation Expense 3750 3660 9000 2023 3750 3360 6750

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Depreciation Methods

The word "depreciation" is defined as an accounting method wherein the cost of tangible assets is spread over its useful life and it usually denotes how much of the assets value has been used up. The depreciation is usually considered as an operating expense. The main reason behind depreciation includes wear and tear of the assets, obsolescence etc.

Depreciation Accounting

In terms of accounting, with the passage of time the value of a fixed asset (like machinery, plants, furniture etc.) goes down over a specific period of time is known as depreciation. Now, the question comes in your mind, why the value of the fixed asset reduces over time.