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Problem# 1 : John Dillinger Company purchased new equipment on January 1, 2016, at a...

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Problem# 1 : John Dillinger Company purchased new equipment on January 1, 2016, at a cost of $100,000. The equipment is expected to have a useful life of four years with a $10,000 residual value. Required: Calculate depreciation expense for 2017 and the book value of the equipment at December 31, 2017 under (a) straight line and, (b) double declining balance depreciation methods. Place your answers on the lines provided below. Book Value @ December 31,2017 Year 2017 Depreciation ExpenseDecember 31.2017 Straight Line Depreciation Double Declining Balance Depreciation Problem# 2: Ma Barker Company purchased a new truck on January 1, 2016, at a cost of $50,000. The truck is expected to have a useful life of 160,000 miles and a $10,000 residual value. Ma Barker drove the truck 40,000 miles in 2016 and 60,000 miles in 2017. Required: Assuming Ma Barker Company calculates depreciation based upon miles driven, determine the following: a. Depreciation expense for 2017 is b. The book value of the truck at December 31, 2017 is_

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