View Policies Current Attempt in Progress On July 1, 2020. Molly's Greenhouse purchased a new delivery truck for $88,000. She paid a $20,000 cash and signed a promissory note for the remainder. Molly estimates that the delivery truck will have a five year useful life, or 200,000 kilometres and a residual value of $8,000. Molly's Greenhouse has a December 31 year end. Molly drove the truck 20,000 km in 2020; 57.000 km in 2021; 58.000 in 2022:55,000 in 2023, and 11.000 in 2024. Prepare depreciation schedules for the life of the asset under the following depreciation methods: 1. 2. straight-line method double-diminishing-balance and units of production method 3. (Round depreciable amount per unit to 2 decimal places, es. 5.27 and the final answers to decimal places, eg 5,276) 1. STRAIGHT-LINE METHOD Question 43 of 45 -/15 E 1. STRAIGHT-LINE METHOD Year Depreciable Amount Depreciation Rate Fraction x of a Year Depreciation Expense Truck 2020 $ % 6/12 2021 % 2022 96 2023 2024 6/52 2025 Question 43 of 45 - / 15 in 1. STRAIGHT-LINE METHOD End of Year ation Fraction of a Year Depreciation Expense Accumulated Depreciation Carrying Amount $ Se % 6/12 $ $ 96 96 96 SR 90 6/12 TE a D Question 43 of 45 -/15 E 2. DOUBLE-DIMINISHING-BALANCE METHOD Depreciable Amount Depreciation Rate Year Fraction of a Year = Depreciation Expense Vehicles 2020 $ % 6/12 $ $ 2021 9 2022 56 2023 2024 6/12 4C 2025 3. UNITS-OF-PRODUCTION METHOD No. of Units Year Depreciation Amt/Unit Depreciation Expense Accumul Deprecia Vehicles 2020 $ 2021 2022 2023 2024 Prepare journal entries to record the purchase of the asset on July 1, 2020, and to record depreciation expense on December 31, 2022 under the double diminishing balance method. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit List of Accounts Question 43 of 45 - /15 TI What is the carrying amount on December 31, 2023 under the double-diminishing balance method? (Round answer to O decimal places, eg. 5,276.) Carrying amount $ List of Accounts What is the accumulated depreciation amount on December 31, 2023 under the units-of-production method? Accumulated depreciation amount s List of Accounts Question 43 of 45