STRAIGHT-LINE DEPRECIATION Irons Delivery, Inc., purchased a new delivery truck for $42,000 on January 1, 2009. The
Question:
STRAIGHT-LINE DEPRECIATION Irons Delivery, Inc., purchased a new delivery truck for $42,000 on January 1, 2009.
The truck is expected to have a $2,000 residual value at the end of its five-year useful life.
Irons uses the straight-line method of depreciation.
Required:
Prepare the journal entry to record depreciation expense for 2009 and 2010.
Cornerstone Exercise
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My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
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Related Book For 
Cornerstones Of Financial Accounting Current Trends Update
ISBN: 9781111527952
1st Edition
Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen
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