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Linton Company purchased a delivery truck for $34,000 on January 1, 2014. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life o
Linton Company purchased a delivery truck for $34,000 on January 1, 2014. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2014 and 12,000 in 2015A) Compute depreciation expense for 2014 and 2015 using (1) the straight-line method (2) the units-of-activity method (3) the double-declining-balance method.(a) (3) 2015 $6,375
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****** ******* purchased * ******** ***** *** ****** ** ******* * 2014 *** truck has ** ******** ******* ***** ** ***** *** is ******** to ** ****** ****** miles over its ********* ****** life ** 8 ***** Actual ***** ****** **** ***** ** **** *** ***** ** 2015A) ******* ************ expense *** **** *** **** ***** *** the ************* method *** *** ***************** ****** (3) the ************************ ********* *** **** $6375Solution:(a) (1) 2014: ******* *** ******** * $4000 2015: ($34000 *** ******** = ******* *** ******* – $2000)/100000 * $032 *** **** ***** ***** * **** = ***** ***** 12000 * **** * ******* (3) 2014: ****** * *** * ***** 2015: ($34000 – $8500) * 25% * ********** *** ************ Expense **** Accumulated *********************** ***** ****** *** Delivery ***** ****** ***** Accumulated ************ **************
