Fernandez Corporation purchased a truck at the beginning of 2019 for $50,000. The truck is estimated to

Question:

Fernandez purchased a truck at the beginning of 2019 for $50,000. The truck is estimated to have a residual value of $2,000 and a useful life of 160,000 miles. It was driven 23,000 miles in 2019 and 31,000 miles in 2020. Compute depreciation expense for 2019 and 2020.
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...