Burger Chef acquired a delivery truck on March 1, 2021, for $31,600. The company estimates a residual value of $2,400 and a six-year service life. It expects to drive the truck 73,000 miles. Actual mileage was 10,700 miles in 2021 and 14,600 miles in 2022. Calculate depreciation expense using the activity-based method for 2021 and 2022, assuming a December 31 year-end. (Do not round intermediate calculations.) Depreciation Expense Year 2021 2022

Burger Chef acquired a delivery truck on March 1, 2021, for $31,600. The company estimates a residual value of $2,400 and a six-year service life. It expects to drive the truck 73,000 miles. Actual mileage was 10,700 miles in 2021 and 14,600 miles in 2022. Calculate depreciation expense using the activity-based method for 2021 and 2022, assuming a December 31 year-end. (Do not round intermediate calculations.) Depreciation Expense Year 2021 2022

Name: Burger Chef acquired a delivery truck on March 1, 2021, for $31,600.
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Description: Burger Chef acquired a delivery truck on March 1, 2021, for $31,600. The company estimates a residual value of $2,400 and a six-yearservice life. It expects to drive the truck 73,000 miles. Actual mileage was 10,700 miles in 2021 and 14,600 miles in

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 3EB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...

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