Skysong Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $104,600 and was estimated to have a residual value of $1,000. It was estimated that the truck would be driven 518,000 kilometres for the company over its useful life of five years. During 2023, the truck was driven 95,100 kilometres, and 128,800 kilometres in 2024. Calculate depreciation expense for 2023 and 2024. (Round depreciation expense per kilometre to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,275.) Depreciation expense $ 2023 19,020 2024

Swifty Corporation purchased a delivery truck for $28,000 on January 1, 2020. 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 14,500 in 2020 and 11,000 in 2021. PArt1: Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense   $ ?   per mile PART 2: Compute depreciation expense for 2020 and 2021 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.)         Depreciation Expense         2020   2021 (1)   Straight-line method   $ ?   $ ?  (2)   Units-of-activity method   $ ?    $ ? (3)   Double-declining-balance method   $ ?   $ ?…

On January 1, 2024, the Excel Delivery Company purchased a delivery van for $33,000. At the end of its five-year service life, it is estimated that the van will be worth $3,000. During the five-year period, the company expects to drive the van 100,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods.   3. Units of production using miles driven as a measure of output, and the following actual mileage: Note: Do not round intermediate calculations. Year           miles           depreciation 2024          22000            6600 2025          24000            7200 2026          15000            4500 2027           20000           6000 2028          21000           _____       and it is not 6300

Mountain View Resorts purchased equipment at the beginning of 2021 for $40,000. Residual value at the end of an estimated four- year service life is expected to be $8,200. The machine operated for 1,900 hours in the first year and the company expects the machine to operate for a total of 11,000 hours over its four-year life. Calculate depreciation expense for 2021, using each of the following depreciation methods: (1) straight-line, (2) double-declining- balance, and (3) activity-based. (Round your intermediate calculations to 2 decimal places.) Depreciation Expense Straight-line Double-declining-balance Activity-based