is the process of allocating the cost of a plant asset to expense in the accounting periods benefiting from its use. Depreciation Expense appears on which financial statement? Moore Company purchased a truck for $75,000. The company uses the units-of-production method for depreciating its trucks. The company expects to drive the truck 100,000 miles over its useful life. The salvage value is estimated to be $1,000. If the truck is driven 25,000 miles in its first year, how much Depreciation Expense should the company record that year