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Homer Simpson purchased a truck for his landscaping business on April 2, 2021. The truck cost $39 000 and has an expected useful life
Homer Simpson purchased a truck for his landscaping business on April 2, 2021. The truck cost $39 000 and has an expected useful life of five years or 200 000km. Its expected residual value is $5 000. Homer drove the truck 24 100km in 2021 and 31 400km in 2022. Homer has asked you to complete the following chart for him by indicating the Depreciation Expense for each year under each method. (Homer's fiscal year end is December 31. Please round final answers to the nearest dollar.) The question continues on the next page! (6 marks) YEAR 2021 STRAIGHT LINE DOUBLE DECLINING BALANCE UNITS OF OUTPUT
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Financial Accounting
Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin
5th Canadian edition
133472264, 978-0133446265, 133446263, 978-0133472264
