Depreciation information for Buckingham Ltd. is given in BE9-4. Assuming the delivery truck was purchased on May
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Depreciation information for Buckingham Ltd. is given in BE9-4. Assuming the delivery truck was purchased on May 1 instead of January 1; calculate the depreciation expense using the diminishing-balance method for 2015 and 2016. Assume the depreciation rate is equal to one time the straight-line rate.
BE9-4
Buckingham Ltd. purchases a delivery truck on January 1, 2015, at a cost of $86,000. The truck is expected to have a residual value of $6,000 at the end of its four-year useful life. Buckingham has a December 31 year end.
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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