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Using double-declining balance method compute depreciation expense for 2018 and 2019.

Computer the accumulated depreciation for December 31 using the double-declining balance method.

Computer the book value for December 31 using the double-declining balance method.

Using units-of-activity method compute depreciation expense for 2018 and 2019.

Computer the accumulated depreciation for December 31 using the units-of-activity method.

Computer the book value for December 31 using the units-of-activity method.

Answer the following questions regarding this problem. Don't use $ in the answers. Jay Company purchased a delivery truck for $67,000 on January 1, 2018. The truck has an expected salvage value of $3,000 and is expected to be driven 110,000 miles over its estimate useful life of 8 years. Actual miles driven were 14,000 in 2018 and 12,000 in 2019 and 4,000 i 2020. The delivery truck is then sold on July 1, 2020 for $50,000 cash. Prepare the journal entry to record 2019 depreciation for the straight-line method. List the account titles to be debited and credited and the amount for annual depreciation to be recorded December 31, 2019. List the debit first. Dec 31, 2019 HTML Editore Journalize the two (2) necessary transactions for the $50,000 cash sale of the truck on July 1, 2020, if Jay Company used the straight-line method for depreciation. List the debits first for each transaction. Jul 1, 2020 Jul 1, 2020

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