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(Solved): Compute depreciation expense for 2022 and 2023 using (1) the straight-line method, (2) the units- ...




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Compute depreciation expense for 2022 and 2023 using (1) the straight-line method, (2) the units-of-activitymethod, and (3) the double-declining-balance method. Assume that Larkspur uses the straight-line method. Prepare the journal entry to record 2022 depreciation expense. (Credit account tities are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter 0 for the amounts.) Assume that Larkspur uses the straight-line method. Show how the truck would be reported in the December 31, 2022, balance sheet. Larkspur, Inc, purchased a delivery truck for on January 1, 2022. The truck has an expected salvage value of , and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 13,800 in 2022 and 10,200 in 2023. (a1) Your answer is correct. Calculate depreciable cost per mile under units-of-activity method. (Round answer fo 2 decimal places, es: 0.5a) Depreciable cust per mile


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