Question: Fordham Ram Company purchased a delivery truck for $50,000 on January 1, 2022. The truck has an expected salvage value of $5,000 and is expected

Fordham Ram Company purchased a delivery truck for $50,000 on January 1, 2022. The truck has an expected salvage value of $5,000 and is expected to be driven 100,000 miles over its estimated useful life of eight years. Actual miles driven were 14,000 in 2022 and 12,000 in 2023. Instructions: (a)Compute depreciation expense for 2022 and 2023 using (1) the straight-line method, (2) the units-of- activity method, and (3) the double-declining balance method. 1. SL: 2. Units of activity: 3. DDB:

Fordham Ram Company purchased a delivery truck for $50,000 on January 1,2022 . The truck has an expected salvage value of $5,000 and is expected to be driven 100,000 miles over its estimated useful life of eight years. Actual miles driven were 14,000 in 2022 and 12,000 in 2023. Instructions: (a)Compute depreciation expense for 2022 and 2023 using (1) the straight-line method, (2) the units-ofactivity method, and (3) the double-declining balance method. 1. SL: 2. Units of activity: 3. DDB

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