Depreciation for Partial Periods Storm Delivery Company purchased a new delivery truck for $69,000 on April 1, 2019. The truck is expected to have a service life of 10 years or 150,000 miles and a residual value of $3,000. The truck was driven 8,000 miles in 2019 and 20,000 miles in 2020. Storm computes depreciation expense to the nearest whole month. For each method, what is the book value of the machine at the end of 2019? At the end of 2020? (Round your answers to the nearest dollar.) Double-declining-balance method 2019 $ fill in the blank 13 2020 $ fill in the blank 14 Activity method 2019 $ fill in the blank 15 2020 $ fill in the blank 16

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Depreciation for Partial Periods

Storm Delivery Company purchased a new delivery truck for $69,000 on April 1, 2019. The truck is expected to have a service life of 10 years or 150,000 miles and a residual value of $3,000. The truck was driven 8,000 miles in 2019 and 20,000 miles in 2020. Storm computes depreciation expense to the nearest whole month.

For each method, what is the book value of the machine at the end of 2019? At the end of 2020? (Round your answers to the nearest dollar.)

  1. Double-declining-balance method
    2019 $ fill in the blank 13
    2020 $ fill in the blank 14
  2. Activity method
    2019 $ fill in the blank 15
    2020 $ fill in the blank 16
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