sd Teddy's delivery company bought a used truck at the beginning of the year at a cost of$6,570. The estimated useful life was 3 years and the residual value was estimated to be$570. Assume that the estimated productive life of the machine is 3,000 miles.Expected annual production (annual miles driven) is as follows:Year 1, 1,500 milesYear 2, 900 milesYear 3, 600 milesN"Required:1. Complete a depreciation schedule for each of the alternative methods. (Do notround Intermediate calculations.)a. Straight-line.YearAt acquisition123YearAt acquisition123IncomeStatementb. Activity-based.YearDepreciationExpenseAt acquisition123S2,000 $2,0002,000IncomeStatementDepreciationExpense$3,000 $1,8001,200c. Double-declining-balance.IncomeStatement$DepreciationExpenseCost4,380 $8,760810CostBalance Sheet6,570 $6,5706,570AccumulatedDepreciationCostBalance Sheet6,570 S6,5706,5702,0004,0006,000AccumulatedDepreciation3,0004,8006,000Balance Sheet6,570 $6,5706,570AccumulatedDepreciation4,3805,7806,570Book Value4,5702,570570Book ValueS 6,5703,5701,770570Book ValueS 6,5702,190810D

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Description: sd Teddy's delivery company bought a used truck at the beginning of the year at a cost of$6,570. The estimated useful life was 3 years and the residual value was estimated to be$570. Assume that the estimated productive life of the machine is 3,000 m

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Teddy's delivery company bought a used truck at the beginning of the year at a cost of $6,570. The estimated useful life was 3 years and the residual value was estimated to be $570. Assume that the estimated productive life of the machine is 3,000 miles. Expected annual production (annual miles driven) is as follows:

Teddy's delivery company bought a used truck at the beginning of the year at a cost of $6,570. The estimated useful life was 3 years and the residual value was estimated to be $570. Assume that the estimated productive life of the machine is 3,000 miles. Expected annual production (annual miles driven) is as follows:

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 4CE: Grandorf Company replaced the engine in a truck for 8,000 and expects the new engine will extend the...

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