Jackal Energy purchased a transport truck on January 1, 2020, for $268,600 cash. Its estimated useful life
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Question:
Jackal Energy purchased a transport truck on January 1, 2020, for $268,600 cash. Its estimated useful life is five years or 270,000 kilometres with an estimated residual value of $49,900.
Required:
Calculate depreciation expense for the year ended December 31, 2020, using each of the following methods:(Do not round intermediate calculations.)
- Straight-line
- Double-declining-balance
- Units-of-production (assume 36,000 kilometres were actually driven in 2020).
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