Whispering Winds Corp. purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected salvage value of $5,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2022 and 11,700 in 2023. 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. (1) Straight-line method (2) Units-of-activity method (3) Double-declining-balance method SA VA 2022 Depreciation Expense 19 SA SA 2023
Whispering Winds Corp. purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected salvage value of $5,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2022 and 11,700 in 2023. 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. (1) Straight-line method (2) Units-of-activity method (3) Double-declining-balance method SA VA 2022 Depreciation Expense 19 SA SA 2023
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Whispering Winds Corp. purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected salvage value of
$5,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in
2022 and 11,700 in 2023.
Transcribed Image Text: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.
(1) Straight-line method
(2) Units-of-activity method
(3) Double-declining-balance method
SA
VA
2022
Depreciation Expense
19
SA
SA
2023
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