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On January 1, 2012, AB Ltd buys a truck for $42,000 cash. It has estimated residual value of $2,000, and an estimated lie of 4
On January 1, 2012, AB Ltd buys a truck for $42,000 cash. It has estimated residual value of $2,000, and an estimated lie of 4 years, or 200,000 miles. The truck drove 40,000 miles in 2012, 60,000 miles in 2013, 80,000 miles in 2014, and 20,000 miles in 2015. Assuming the company uses the Double-declining balance method of depreciation complete the following table and show your computation/workings for the figures shown as the annual depreciation expense. Asset cost, depreciation expense, accumulated depreciation and net book value.
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