Question
On July 1, 2017, we purchased a truck for $60,000. The truck has a useful life of 5 years and a residual value of $5,000.
On July 1, 2017, we purchased a truck for $60,000. The truck has a useful life of 5 years and a residual value of $5,000. The truck is depreciated using the straight-line method. What is the depreciation expense for 2017?
$12,000
$11,000
$5,500
$1,000
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
IFRS edition volume 2
978-0470613474, 470613475, 978-0470616314
