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On January 2, 2016, Speedy Delivery Service purchased a truck at a cost of $65,000. Before placing the truck in service Speedy spent $2,200 painting
On January 2, 2016, Speedy Delivery Service purchased a truck at a cost of $65,000. Before placing the truck in service Speedy spent $2,200 painting it, $500 replacing tires, and $11,800 overhauling the engine. The truck should remain in service for five years and have a residual value of $6,000. The truck's annual mileage is expected to be 23,000 miles in each of the first four years and 13,000 miles in the fifth year 105,000 miles in total. In deciding which depreciation method to use, Jacob Nealy, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance). Read the requirements Depreciation for the Year Depreciation Rate Depreciation Accumulated xpense Depreciation Depreciable Book Date Cost Cost Value 1-2-2016 12-31-2016 12-31-2017 12-31-2018 12-31-2019 12-31-2020
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