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   $ ?   $ ? PART 3: Assume that Swifty uses the straight-line method. Prepare the journal entry to record 2020 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.) Account Titles and Explanation Debit Credit enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Assume that Swifty uses the straight-line method. Show how the truck would be reported in the December 31, 2020, balance sheet. (Round answers to 0 decimal places, e.g. 2,125.) Swifty Corporation Partial Balance Sheet choose the accounting period                                                                        enter a balance sheet item     $enter a dollar amount  select between addition and deduction                                                                       : enter a balance sheet item     enter a dollar amount       $enter a subtotal of the two previous amounts

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…

On May 1, 2025, Crane Company purchased factory equipment for $739700. The asset's useful life in hours is estimated to be 190000. The estimated salvage value is $35000 and the estimated useful life in years is 9. The machine was used for 19000 hours in the first year. If the activity method is used, what is depreciation expense for 2025? (Round the depreciation rate to 4 decimal places e.g. 15.2578.) $52200 $70469 $78300 O $74269

2. The Alpha Drug Company has just purchased a capsulating machine for ₱2,000,000. The plant engineer estimates that the machine has a useful lifeof five years and a salvage value of ₱ 25,000 at the end of its useful life.Compute the depreciation schedule for the machine by each of thefollowing depreciation methods: a. Straight line method of depreciationb. Sum-of-the-years digits method of depreciationc. declining balance method of depreciationd. double declining balance method of depreciation

Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] aw 11 On April 1, Cyclone Company purchases a trencher for $304,000. The machine is expected to last five years and have a salvage value of $52,000. Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. (Enter all amounts as positive values.) Annual Period Beginning of Period Book Value Year 1 Year 2 Depreciation for the Period Depreciation Partial Rate Year Depreciation Expense

Assume that an asset costing $72,000 is expected to produce 500,000 units and have a salvage value of $6,000. The first year, 90,000 units are produced; the second year, 82,000 units are produced; the third year, 94,000 units are produced. Using the units-of-production method, complete the following: Year  DepreciationExpense BookValue 0 — $72,000 1 fill in the blank 1 fill in the blank 2 2 fill in the blank 3 fill in the blank 4 3 fill in the blank 5

Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On April 1, Cyclone Company purchases a trencher for $304,000. The machine is expected to last five years and have a salvage value of $52,000. xercise 8-11 (Algo) Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the straight-line method. Choose Numerator: Year First year Second year Annual Depreciation 1 1 X Choose Denominator: Fraction of Year ▶II 0 F8 F9 F10 F11

A truck acquired at a cost of $195,000 has an estimated residual value of $9,000, has an estimated useful life of 62,000 miles, and was driven 6,200 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The Depreciable Cost $fill in the blank 1   (b) The Depreciation Rate $fill in the blank 2 per mile (c) The Units-of-activity Depreciation for the Year $fill in the blank 3

On January 1, Year 1, Friedman Company purchased a truck that cost $40,000. The truck had an expected useful life of 200,000 miles over 8 years and an $8,000 salvage value. During Year 2, Friedman drove the truck 19,000 miles. Friedman uses the units-of-production method. What is depreciation expense in Year 2? Note: Round your intermediate calculations to 3 decimal places. Multiple Choice O O O O $3,800 $3,040 $5,000 $4,000

A machine was purchased for $72,000, has a 10-year useful life, and a $4,000 salvage value. What is its depreciation expense in year 2 using the sum of the years' digits method (rounded to the nearest dollar)? Select one: O a. 12,364 O b. 11,782 c. 13,091 d. 11,127 O