27. Steven's Co. purchased a delivery vehicle on January 1, 2012 for $46,000. The vehicle has a life of 8 years or 250,000 miles and an estimated salvage value of $5,000. Calculate the depreciation for 2015 (only) using the (1) straight line method: (2) double declining balance method; and (3) the activity-based method assuming that the vehicle was driven 31,000 miles in 2015 A Straight Line B. Double Declining C. Activity Based 28. A truck that cost $15,000 and had $10,000 of accumulated depreciation was disposed of on January 1, 2016. Make the entries in correct form to record the following a. Assume the truck was discarded as having no value. b. Assume the truck was sold for $1,000 cash c. Assume the truck was sold for $7,500 cash
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