Depreciation Methods A delivery truck costing $22,000 is expected to have a $2,000 salvage value at...
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Depreciation Methods A delivery truck costing $22,000 is expected to have a $2,000 salvage value at the end of its useful life of four years or 100,000 miles. Assume that the truck was purchased on January 2. Calculate the depreciation expense for the second year using each of the following depreciation methods: (a) straight-line, (b) double-declining balance, and (c) units-of-production. (Assume that the truck was driven 30,000 miles in the second year.) Round all answers to the nearest dollar. $ 22000 I $ a. Straight-line b. Double-declining balance $ c. Units-of-production Depreciation Methods A delivery truck costing $22,000 is expected to have a $2,000 salvage value at the end of its useful life of four years or 100,000 miles. Assume that the truck was purchased on January 2. Calculate the depreciation expense for the second year using each of the following depreciation methods: (a) straight-line, (b) double-declining balance, and (c) units-of-production. (Assume that the truck was driven 30,000 miles in the second year.) Round all answers to the nearest dollar. $ 22000 I $ a. Straight-line b. Double-declining balance $ c. Units-of-production
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Depreciation of delivery truck aWorkings Depreciable amount 220002000 20000 In Year 1 20... View the full answer
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
Posted Date:
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