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Chrome File Edit View History Bookmarks People Window Help ? ?· B RAMweb Cox M Inbox trivk × 018SP-CIS × https://secux , CCCS Login × Pa ACC121 M5 x V WieyPLUS ? ce secure https://edugen.wileyplus.com/edugeniti/main.uni Linton Com × E Depletion- x Weygandt, Accounting Principles, 12e Help I S BACK NEXT ASSIGNMENT RESOURCES ACC121 5C10HOMEWORK x Your answer is incorrect. Try again. 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.) stion LINTON COMPANY Partial Balance Sheet Review Results b y Study SHOW LIST OF ACCOUNTS LINK TO TEXT d: Excel2-Exercise3 (1).xlsx dl. HR Dashboard-2 (1).xlsx dl? HR Dashboard-2.xlsx Excel2-Exercise3-Po pdf Show All 18

Explanation / Answer

Ans.1 2017 2018 Declining balance depreciation 8750 6563 *Calculation: Double declining balance rate = 2 * 100 / life 2 * 100 / 8 25% 2017 Depreciation = Cost of truck * Depreciation rate 35000 * 25% 8750 2018 Depreciation = (Cost - previous dep.) * depreciation rate (35000 - 8750) * 25% 6562.5 Ans.2 Jounal entry for 2017 depreciation (straight-line) Accounts titles and Explanations Debit Credit Depreciation 4150 Accumulated depreciation 4150 Ans.3 LINTON COMPANY Partial Balance Sheet For the year ended Dec.31,2017 ASSETS AMOUNT Truck 35000 Less: Accumulated Depreciation -4150 Net Truck 30850

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