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-/15 Question 3 of 3 View Policies Current Attempt in Progress On July 1, 2020, Molly's Greenhouse purchased a new delivery truck for $96,000. She paid a $20,000 cash and signed a promissory note for the remainder Molly estimates that the delivery truck will have a five-year useful life, or 225.000 kilometres and a residual value of 56.000 Mollys Greenhouse has a December 31 year end. Molly drove the truck 16.000 km in 2020, 45,000 km in 2021 47.000 in 2022:44,000 in 2023, and 74,000 in 2024 Prepare depreciation schedules for the life of the asset under the following depreciation methods: 1. 2. straight-line method double-diminishing-balance, and units-of-production method 3. (Round depreciable amount per unit to 2 decimal places, c.8. 5.27 and the final answers to decimal places, s. 5.276) 1. STRAIGHT-LINE METHOD Fraction Depreciation Case hin Depreciation (Round depreciable amount per unit to 2 decimal places, es 5:27 and the final artswers to decimal places, es 5.276) 1. STRAIGHT-LINE METHOD Year Depreciable Amount Depreciation Rate Fraction of a Year - Depreciation Expense Truck 2020 $ 6/12 $ 2021 2022 2023 2024 6/12 2025 ING SEAM U-18 -/15 E 2. DOUBLE-DIMINISHING-BALANCE METHOD Depreciable Amount Depreciation Rate Year X Fraction of a Year - Depreciation Expense Vehicles 2020 $ x 6/12 $ 2021 2022 % 6 2023 96 2024 6/12 2025 Question 3 of 3 -/15 E 3.UNITS-OF-PRODUCTION METHOD Year No. of Units Depreciation Amt/Unit Depreciation Expense Accumul Deprecia Vehicles 2020 $ $ 2021 2022 2023 2024 /15 Prepare journal entries to record the purchase of the set on July 1, 2020, and to record depreciation on December 2022 under the double diminishing balance method Credit account titles are automatically indented when the amount is entire not indent manuallyI no entry is required, select "No Entry for the account title and enter for the amounts) Date Account Titles and Explanation Debit Credit What is the carrying amount on December 31, 2023 under the double-dininishing tabance method and answer to place 5.276 AM Carrying amount Question 3 of 3 - 15 What is the accumulated depreciation amount on December 31, 2023 under the units of production method Accumulated depreciation amount $ What is the carrying value at the end of the life of the asset under the straight line methode Carrying value $ How does your answer in the immediately preceding question compare to the other two methods? The answers in the immediately preceding Question is compared to the other two method EMAM

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