Question
On January 1, 2025, a corporation acquired a truck for $80,000. Residual value was estimated to be $15,000. The truck can be driven for 90,000
On January 1, 2025, a corporation acquired a truck for
$80,000.
Residual value was estimated to be
$15,000.
The truck can be driven for
90,000
miles or a useful life of four years. What is the book value at the end of year 2, calculated by the
straightline
method?
A.
$63,750
B.
$47,500
C.
$40,000
D. 20,000
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Auditing The Art and Science of Assurance Engagements
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, Ingrid B. Splettstoesser
12th Canadian edition
133098230, 978-0132791564, 132791560, 978-0133098235
