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Blossom uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 313,300 km over its life. Taxi 10
Blossom uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 313,300 km over its life. Taxi 10 was purchased on March 1, 2020, for $31,810 and is expected to have a residual value of $480. Taxi 10 was driven 125,730 km in 2020 and 99,750 km in 2021. Blossom has a December 31 year end. Calculate the depreciation expense on Taxi 10 for 2020 and 2021. Year Depreciation expense 2020 $ 2021 $
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