Bridgeport Company acquires a delivery truck at a cost of $55,000. The truck is expected to have a salvage value of $16,000 at the end of its 4-year useful life. Compute annual depreciation expense for the first and second years using the straight-line method

Splish Company purchases equipment on January 1, Year 1, at a cost of $612,000. The asset is expected to have a service life of 12 years and a salvage value of $55,080. (a) Compute the amount of depreciation for each of Years 1 through 3 using the straight-line depreciation method. (Round answers to O decimal places, e.g. 5,125.) Your answer is correct. Depreciation for Year 2 (b) Depreciation for Year 1 Depreciation for Year 3 (c) eTextbook and Media Depreciation for Year 1 Your answer is correct. Depreciation for Year 2 Depreciation for Year 3 $ eTextbook and Media $ $ Compute the amount of depreciation for each of Years 1 through 3 using the sum-of-the-years-digits method. Depreciation for Year 2 $ $ $ Depreciation for Year 1 $ 46,410 $ 46,410 Depreciation for Year 3 $ 46,410 85.680 78.540 Compute the amount of depreciation for each of Years 1 through 3 using the double-declining-balance method. (Round depreciation rate to 2 decimal places, e.g. 15.84% and final answers to 0 decimal…

Sanders LLC purchased new packaging equipment with an estimated useful life of five years. The cost of the equipment was $30,000, and the salvage value was estimated to be $3,000 at the end of five years. Compute the annual depreciation expenses through the five-year life of the equipment under each of the following methods of book depreciation:(a) The straight-line method.(b) The double-declining-balance method. (Limit the depreciation expense in the fifth year to an amount that will cause the book value of the equipment at year-end to equal the $3,000 estimated salvage value.)

At the beginning of Year 1, Sophie Mopey Company buys a truck for $100,000 and estimates it has a useful life of 10 years and a salvage value of $6,000. The company estimates it will be able to drive the truck 188,000 miles before it has to be replaced, and drives it 30,000 miles in Year 1. Which of the following would be recorded under STRAIGHT-LINE depreciation? O Depreciation Expense of $15,957 in Year 1 O Depreciation Expense of $9,400 in Year 1 O Depreciation Expense of $20,000 in Year 1 O Depreciation Expense of $10,000 in Year 1 O Depreciation Expense of $18,800 in Year 1 O Depreciation Expense of $15,000 in Year 1 QUESTION 2 B 2