Can I please have assistance with my accounting homework?

Can I please have assistance with my accounting homework?

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Truck A is purchased on 1-1-X1 for 15,500.
Straight-line depreciation is used,
with a salvage value of 1,500.
Estimated useful life is 5 years.
On 12-31-X4 we
are going to trade in truck A for truck B with a FMV of $18,000.
Trade in
allowance is $3,500.
Answer the following:
1. How much is the annual depreciation for truck A using straight line
depreciation? ____________________
2.
What is the journal entry to record depreciation for Truck A for 12-31-X1
3.
What is the accumulated depreciation for truck A as of 12-31-X4, using
straight-line depreciation?
_____________________
4.
What is the book value of truck A on 12-31-X4?_________________
5.
Is there a gain or loss for the trade in?
Gain
Loss
6.
What is the dollar value of the gain or loss?__________________
7.
How much cash will we have to pay out for truck B ?_____________
8.
What is the journal entry needed to record the exchange on 12-31-x4?
9.
If we had used the double declining method of depreciation, what would be the
depreciation expense for year 1?
______________
10. If we had used the double declining method of depreciation, what would be the
depreciation expense for year 2?
______________

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