Gardner Corporation purchased a truck at the beginning of 2014 for $90,000. The truck is estimated to have a salvage value of $3,600 and a useful life of 120,000 miles. It was driven 18,000 miles in 2014 and 32,000 miles in 2015. What is the depreciation expense for 2014?

A company purchased a new machine on January 1, 2014. The supplier, "Forever supply" was paid $2,000 in cash. In addition, transportation and installation were $180 (paid in cash), legal costs associated with the asset were $20 (paid in cash). The machine has an estimated life of 5 years and an estimated salvage value of $300. It is company policy to use straight line depreciation for all of its machines.  question:  Assume the machine was sold on July 1, 2015 to "company A" for $1200 cash. Prepare the journal entry/entries to record this transaction.  What was the gain/loss? Include the classification of the accounts and clearly label your debits and credits.

On January 1, 2013, Zane Manufacturing Company purchased a machine for $40,000.  The company expects to use the machine a total of 24,000 hours over the next 6 years.  The estimated sales price of the machine at the end of 6 years is $4,000.  The company used the machine 8,000 hours in 2013 and 12,000 in 2014.   What is depreciation expense for 2013 if the company uses straight-line depreciation?

Linton Company purchased a delivery truck for $S34,000 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 10 years. Actual miles driven were 19,000 in 2014 and 16,000 in 2015. Instructions a) Compute depreciation expense for 2014 and 2015 using (1) the straight-line method and                                                              (2) the units-of-activity method                                                               (b) Assume that Linton uses the straight-line method, Prepare the journal entry to record 2014 depreciation.