Question
Cyrus OHern, owner of Pizza on Wheels, purchased a 2018 Oven Car for his fleet of pizza delivery vehicles at a cost of $75,000. Cyrus
Cyrus OHern, owner of Pizza on Wheels, purchased a 2018 Oven Car for his fleet of pizza delivery vehicles at a cost of $75,000. Cyrus assumes a 5 year useful life at which time he will trade in the car for a new model at a trade-in value of $5,000. Complete a depreciation schedule for this unit under the straight-line method of depreciation.
YearDepreciableDepreciationDepreciationAccumulatedBook
CostRateExpenseDepreciationValue
2018
2019
2020
2021
2022
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Financial Accounting
Authors: Anne Britton, Christopher Waterston
3rd Edition
027365859X, 978-0273658597
