Question: #3 for part A2 can someone explain how my answer is incorrect and tell me the correct answers please Question 2 Sheffield Company purchased a

#3 for part A2 can someone explain how my answer is incorrect and tell me the correct answers please  #3 for part A2 can someone explain how my answer is
incorrect and tell me the correct answers please Question 2 Sheffield Company

Question 2 Sheffield Company purchased a delivery truck for $27,000 on January 1, 2020. The truck has an expected salvage value of $1,560, and is expected to be driven 106,000 miles over its estimated useful life of 10 years. Actual miles driven were 15,600 in 2020 and 10,000 in 2021. (21) Your answer is correct. Calculate depreciation expense per mile under units-of-activity method. (Round answer to places, e.g. 0.50.) Depreciation expense -24 per mile SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 3 of 4 used (2) Your answer is partially correct. Try again. Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance method. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to o decimal places, e.g. 159. Round final answers to O decimal places, e.g. 2,125.) (a2) Your answer is partially correct. Try again. Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining balance method. (Round depreciation cost per nit to 2 decimal places, e.g. 0.50 and depreciation rate to o decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Depreciation Expense 2020 2021 (1) Straight-line method 2,544 2,544 (2) Units-of-activity method 3,744 2,400 (3) Declining-balance method 2700 SHOW LIST OF ACCOUNTS LINK TO TEXT 2 af urad SEYFFAR LATER SOMIT

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

\f