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Hi teachers! please help me with this. This is to be depreciated on straight line basis SECTION A Bruce Lee corporation purchased a truck which
Hi teachers! please help me with this. This is to be depreciated on straight line basis
SECTION A Bruce Lee corporation purchased a truck which cost $57540 and it has a 5 year useful life. The company believes that the truck will have a salvage value of $9000. The purchase was done on June 1, 2016. the company uses double declining to depreciate its assets. Part A Required 1. Make a depreciation schedule based on straight line method for the truck. 2. Journalize depreciation expense for 2016 and 2017 3. Give a balance sheet extract for long term asset for 2018
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