X AutoSave Off H . = Chapter 10 Handouts Search Falenda Bureau FB X File Home Insert Draw Page Layout Formulas Data Review View Automate Help Comments Share Calibri 11 - A" A" E ab General Insert Ap O Conditional Format as Delete Paste BIU~ BEE $ ~ % .0 Cell Sort & Find & Analyze Sensitivity 00 Formatting Table Styles ~ Format Filter * Select v Data Clipboard Font Alignment Number Styles Cells Editing Analysis Sensitivity vi X fx A B C D E F G H I JK LM N O P Q R S T U On January 1st, 20X1, ABC Company purchased a work truck. Details on this truck are as follows: UA W N - Cost 225,000 Residual value 25,000 Estimated useful life (years) 4 a) Complete the following chart using the straight line method. Depreciation Accumulated 10 Year Expense Depreciation Book Value 11 20X1 12 20X2 13 20X3 14 20X4 15 16 b) Complete the following chart using the double-declining method. 17 Depreciation Accumulated I. Depreciation Methods Il. Sale of Truck + Ready Accessibility: Good to go + 1009 1 NASDAQ 100 2:51 PM Q Search X -1.29% 6/12/2023X AutoSave Off H . = Chapter 10 Handouts Search Falenda Bureau FB X File Home Insert Draw Page Layout Formulas Data Review View Automate Help Comments Share Calibri 11 - A" A" E ab General Insert Ap O Paste BIU~ BEE $ ~ % .0 Conditional Format as Cell Delete Sort & Find & Analyze Sensitivity 00 Formatting Table Styles ~ Format Filter * Select v Data Clipboard Font Alignment Number Styles Cells Editing Analysis Sensitivity $6 viXA A B C D E F G H I JK LM N O P Q R S T U 16 b) Complete the following chart using the double-declining method. 17 Depreciation Accumulated 18 Year Expense Depreciation Book Value 19 20X1 20 20X2 21 20X3 22 20X4 23 24 c) Complete the following chart using the units-of-activity (production) 25 method. Assume that the truck has a useful life of 100,000 miles and was used 26 30,000 miles in Year 1, 30,000 miles in Year 2, 20,000 miles in Year 3, and 22,000 27 Depreciation Accumulated 28 Year Expense Depreciation Book Value 29 20X1 30 20X2 31 20X3 32 20X4 > I. Depreciation Methods Il. Sale of Truck + Ready Accessibility: Good to go + 1009 1 NASDAQ 2:53 PM Q Search X () O +1.15% 6/12/2023X AutoSave Off H . = Chapter 10 Handouts Search Falenda Bureau FB X File Home Insert Draw Page Layout Formulas Data Review View Automate Help Comments Share Calibri 11 - A" A" E Insert ab Custom Ap O Delete Paste BEE * % " .0 Conditional Format as Cell Sort & Find & Analyze Sensitivity BIU~ Formatting Table Styles ~ Format Filter * Select v Data Clipboard Font Alignment Number Styles Cells Editing Analysis Sensitivity C16 vi X f* A B C D E F G H JK LM N O P Q R S T U The following is a depreciation schedule for one of ABC's trucks. On January 1st of 20X3, ABC Company decides to sell the truck for $122,000. W Depreciation Accumulated Year Expense Depreciation Book Value 20X1 50,000 50,000 175,000 Original cost $ 225,000 10 20X2 50,000 100,000 125,000 11 20X3 50,000 150,000 75,000 12 20X4 50,000 200,000 25,000 13 14 a) What is the accumulated depreciation of the truck on January 1, 20X3. 15 16 17 18 b) What is the book value of the truck on January 1, 20X3. 19 20 21 22 c) What is the gain or loss on the sale of the truck? 73 > I. Depreciation Methods Il. Sale of Truck + Ready Accessibility: Good to go + 1009 1 NASDAQ 2:54 PM Q Search X () O +1.15% 6/12/2023X X AutoSave Off H . = Chapter 10 Handouts Search Falenda Bureau FB File Home Insert Draw Page Layout Formulas Data Review View Automate Help Comments Share Insert Calibri 11 - A" A" E ab Custom Ap O Cell Delete Sort & Find & Analyze Sensitivity Paste BIU~ BEE * % " .0 Conditional Format as Formatting Table Styles ~ Format Filter * Select v Data Font Alignment Number Styles Cells Editing Analysis Sensitivity Clipboard C16 vi X f* A B C D E F G H I JK LM N O P Q R S T U 13 14 a) What is the accumulated depreciation of the truck on January 1, 20X3. 15 16 17 18 b) What is the book value of the truck on January 1, 20X3. 19 20 21 22 c) What is the gain or loss on the sale of the truck? 23 24 25 26 d) What is journal entry to record the sale of the truck? 27 28 29 30 31 I. Depreciation Methods II. Sale of Truck + + 1009 Ready Accessibility: Good to go 1 NASDAQ 2:54 PM Q Search X 6/12/2023 +1.15%