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On January 1, 2009, a corporation purchased a truck that cost $20,000. It is being depreciated on a straight line basis over 6 years, with
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On January 1, 2009, a corporation purchased a truck that cost $20,000. It is being depreciated on a straight line basis over 6 years, with a $2,000 residual value. At the end of 2010, it is determined that the total useful life of the truck should be 16 years and the residual value should be zero. What is the 2011 depreciation expense?
A. $1,000
B. $600
C. $900
D. $1,200
On January 1, 2009, a corporation purchased a truck that cost $20,000. It is being depreciated on a straight line basis over 6 years, with a $2,000 residual value. At the end of 2010, it is determined that the total useful life of the truck should be 16 years and the residual value should be zero. What is the 2011 depreciation expense?
| A. $1,000 | ||
| B. $600 | ||
| C. $900 | ||
| D. $1,200 |
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