Question
On January 1, Year 1, Friedman Company purchased a truck that cost $33,000. The truck had an expected useful life of 100,000 miles over 8
On January 1, Year 1, Friedman Company purchased a truck that cost $33,000. The truck had an expected useful life of 100,000 miles over 8 years and an $7,000 salvage value. During Year 2, Friedman drove the truck 34,000 miles. The amount of depreciation expense recognized in Year 2 assuming that Friedman uses the units-of-production method is:
(Do not round intermediate calculations.)
On January 1, Year 1, Friedman Company purchased a truck that cost $33,000. The truck had an expected useful life of 100,000 miles over 8 years and an $7,000 salvage value. During Year 2, Friedman drove the truck 34,000 miles. The amount of depreciation expense recognized in Year 2 assuming that Friedman uses the units-of-production method is:
(Do not round intermediate calculations.)
$8,840
$3,250
$11,220
$4,125
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