NEED ANSWER ASAP PLEASE !!! Linton Company purchased a delivery truck for $33,00

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NEED ANSWER ASAP PLEASE !!!

Linton Company purchased a delivery truck for $33,000 on January 1, 2017. The truck has an expected salvage value of $1,300, and is expected to be driven 109,000 miles over its estimated useful life of 9 years. Actual miles driven were 15,400 in 2017 and 12,500 in 2018.

Compute depreciation expense for 2017 and 2018 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.)

Assume that Linton uses the straight-line method. Prepare the journal entry to record 2017 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 2,125.)

Assume that Linton uses the straight-line method. Show how the truck would be reported in the December 31, 2017, balance sheet. (Round answers to 0 decimal places, e.g. 2,125.)

Calculate depreciation expense per mile under units-of-activity method. ( Depreciation expense per mile SHOW LIST OF ACCOUNTS

Explanation / Answer

1) Depreciation expense per mile = (33000-1300/109000) = 0.29 per mile

2) Calculate depreciation expense :

Journal entry :

d) Partial balance sheet :

Year 1 Year 2 Straight line 3522 3522 Units of production 4466 3625 Double declining balance 7260 5663

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