On January 1, 2018, Quick Delivery Service purchased a truck at a cost...
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On January 1, 2018, Quick Delivery Service purchased a truck at a cost of $90,000. Before placing the truck in service, Quick spent $2,200 painting it, $500 replacing tires, and $6,300 overhauling the engine. The truck should remain in service for five years and have a residual value of $9,000. The truck's annual mileage is expected to be 21,000 miles in each of the first four years and 16,000 miles in the fifth year-100,000 miles in total. In deciding which depreciation method to use, Carl Thomas, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance). Read the requirements. Cost Life Expense Depreciation Cost nnnnn Question $ $ Date 1-1-2018 $ 12-31-2018 12-31-2019 12-31-2020 12-31-2021 12-31-2022 90,000 90,000 90,000 90,000 / 90,000/ 5 years 5 years 5 years 5 years 18,000 18,000 18,000 18,000 18,000 18,000 36,000 54,000 72,000 90,000 Value 99,000 81,000 63,000 45,000 27,000 9,000 Before completing the units-of-production depreciation schedule, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. (Round depreciation expense per unit to two decimal places.) = Depreciation per unit Choose from any list or enter any number in the input fields and then click Check
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