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Danny Dimes Construction Company acquired the following plant assets on January 1, 2021. The delivery truck was driven for 12,000 miles in 2021 and 20,000
Danny Dimes Construction Company acquired the following plant assets on January 1, 2021. The delivery truck was driven for 12,000 miles in 2021 and 20,000 miles in 2022; of its useful estimated life of 100,000 miles. Compute depreciation for each of the assets for 2021 and 2022 only. Assets Office Equipment Building Delivery truck ** Show your math** 1 a. b. C. Cost $150,000 $280,000 $125,000 Office equipment Building Delivery equipment 2021 Residual Value $5,000 $30,000 $25,000 Useful Life 5 years 20 years 10 years I Depreciation Method Straight-line Double-declining balance Units-of-production 2022
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