Question
Irons deliver inc purchased a new delivery truck for 42,000 on 01/01/19. The truck is expected to have a 2000 residual value at the end
Irons deliver inc purchased a new delivery truck for 42,000 on 01/01/19. The truck is expected to have a 2000 residual value at the end of the its 5 year useful life. Irons uses the straight line method of depreciation.
Prepare the journal entry to record depreciation expense for 2019 and 2020
2019
Depreciation expense
Accumulated depreciation
2020
Depreciation expense
Accumulated depreciation
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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
