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Given the following cost information about a fixed asset, calculate depreciation expense for its second year of operation assuming a ) straight - line depreciation,
Given the following cost information about a fixed asset, calculate depreciation expense for its second year of operation assuming a straightline depreciation, b doubledeclining balance, and c units of production.
The cost of a truck purchased on January is $ It has a useful life of years or miles. At the time of the purchase of the asset, it had an estimated salvage value of $ at the end of its useful life. It is driven miles in its first year of operation and miles in its second year of operation.
Show the presentation of the fixed assets section of the balance sheet at the end of the second year for each of the above situations ie straightline depreciation, doubledeclining balance, and units of production How much is the book value of this asset at the end of that second year under each of those depreciation methods?
Please see chart on picture
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