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Answered: - Depreciation Method. The following information is availabl


Depreciation Method. The following information is available for Carnegie Company, which has an accounting year end on December 31, 2014. 1.A delivery truck was purchased on June 1, 2015, for $60,000. it was estimated to have a $4,800 salvage value after being driven 115,000 miles. Prior to 2017, the truck was driven 43,000 miles, and during 2017, the truck was driven 18,500 miles. the unit of activity method of depreciation is used. 2. A building was purchased on January 1, 2005, for $2,700,000. It is estimated to have a $60,000 salvage value at the end of its 30 year useful life. The straight line method of depreciation is bein used. 3. Equipment was purchased on January 1, 2015 for $140,000. It was estimated that the equipment would have a $16,000 salvage value at the end of its 4 year useful life. The double declining balance method of depreciation is being used. Prepare a table showing appropriate amounts. Assets for truck, Accumulated Depreciation 1/1/17 $ amount, Truck, depreciation expense for 2017 $ amount, truck-book value at 12/31/17 $ amount. Do the same for Building and Equipment. Same as above. Problem

 


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