Can I please have help with this homework due tonight?


Question Description:

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Can I please have help with this homework due tonight? Accounting Quiz.docx 1. You purchase a truck on 1-1-x1 for $55,000. Salvage value is $5,000 and the life of the truck is 5 years. Fill in the chart below using straight line depreciation. Depreciation Expense Accumulated Depreciation Year 1 ___________ ________________ Year 2 ___________ ________________ Year 3 ___________ ________________ Year 4 ____________ ________________ Year 5 ____________ ________________ Prepare the necessary journal entry needed on 12-31-x1 to record depreciation expense Prepare the necessary journal entry needed on 12-31-X2 to record depreciation expense 2. You purchase a truck on 1-1-x1 for $55,000. Salvage value is $5,000 and the life of the truck is 5 years. Fill in the chart below using Double Declining depreciation. Depreciation Expense Accumulated Depreciation Year 1 ___________ ________________ Year 2 ___________ ________________ Year 3 ___________ ________________ Year 4 ____________ ________________ Year 5 ____________ ________________ Prepare the necessary journal entry needed on 12-31-x1 to record depreciation expense Prepare the necessary journal entry needed on 12-31-X2 to record depreciation expense Bonus +10 3. You purchase a truck on 1-1-x1 for $55,000. Salvage value is $5,000 and the life of the truck is estimated at 200,000 miles. Fill in the chart below using Units of production depreciation. Actual Mileage Depreciation Expense Accumulated Depreciation Year 1 40,000 ___________ ________________ Year 2 45,000 ___________ ________________ Year 3 50,000 ___________ ________________ Year 4 50,000 ____________ ________________ Year 5 60,000 ____________ ________________ What is the depreciation expense per mile. ________ Prepare the necessary journal entry needed on 12-31-x1 to record depreciation expense Prepare the necessary journal entry needed on 12-31-X2 to record depreciation expense

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