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On January 1, Year 1, Woolly Company purchased a truck that cost $64,000. The truck had an expected useful life of 120,000 miles over
On January 1, Year 1, Woolly Company purchased a truck that cost $64,000. The truck had an expected useful life of 120,000 miles over 8 years and a $4,000 salvage value. During Year 2, Woolly drove the truck 20,000 miles. Woolly uses the units-of-production method. What is the amount of depreciation expense recognized in Year 2?
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Accounting Principles Part 2
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
6th Canadian edition Volume 1
1118306791, 978-1118306796
