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On January 1st, 20X1, ABC Company purchased a work truck. Details on this truck are as follows: Cost $ 225,000 Residual value $ 25,000
On January 1st, 20X1, ABC Company purchased a work truck. Details on this truck are as follows: Cost $ 225,000 Residual value $ 25,000 Estimated useful life (years) 4 a) Complete the following chart using the straight line method. Depreciation Year Expense Accumulated Depreciation Book Value 20X1 20X2 20X3 20X4 b) Complete the following chart using the declining-balance method. Depreciation Accumulated Year Expense Depreciation Book Value 20X1 20X2 20X3 20X4 c) Complete the following chart using the units-of-production method. Assume that the truck has a useful life of 100,000 miles and was used 30,000 miles in Year 1, 30,000 miles in Year 2, 20,000 miles in Year 3, and 22,000 miles in Year 4. Year Depreciation Expense Accumulated Depreciation Book Value 20X1 20X2 20X3 20X4 "
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