Depreciation for Partial Feriods Woody Delivery Company purchased a new delivery truck for $69,000 on...
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Depreciation for Partial Feriods Woody Delivery Company purchased a new delivery truck for $69,000 on April 1,2019 . The truck is expected to have a service life of 10 years or 90,000 miles and a residual value of $3,000. The truck was driven 10,000 miles in 2019 and 14,000 miles in 2020 . Woody computes depreciation expense to the nearest whole month. Required: 1. Compute depreciation expense for 2019 and 2020 using the following methods: (Round your answers to the nearest dollar.) a. Straight-line method 20192020$$$ b. Sam-of-the-years -digits method 20192020$$ c. Double-declining-balance method 20192020$$ d. Activity method 201920205$ 2. For each method, what is the book value of the machine at the end of 20197 At the end of 2020? (Round your answers to the nearest dollar.) a. Straight-line method 20192020$$ b. 5 um -of-the-years'-digits method 20192020$$ c. Double-declining-balance method 2019202055 d. Activity method 20192020$$ 3. Next Level The book value of the asset in the early years of the asset's service will be under an accelerated method as compared to the straight-line method. The method is appropriate when the service life of the asset is affected primarily by the amaunt the asset is used
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