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On July 1, 2020 Pearl's Greenhouse purchased a new delivery truck for $100,000. Pearl estimates that the delivery truck will have a five-year useful life,
On July 1, 2020 Pearl's Greenhouse purchased a new delivery truck for $100,000. Pearl estimates that the delivery truck will have a five-year useful life, or 225,000 kilometres, and a residual value of $10,000. Pearl's Greenhouse has a December 31 year end. Pearl drove the truck 14,000 km in 2020 and 37,000 km in 2021. Calculate depreciation expense using the straight-line method for 2020 and 2021. 2020 2021 Depreciation Expense $ Calculate depreciation expense using the double-diminishing-balance method for 2020 and 2021. 2020 2021 Depreciation Expense S S $ S Calculate depreciation expense using the units-of-production method for 2020 and 2021. (Round depreciable amount per unit to 2 decimal places, eg. 5.27 and the final answers to O decimal places, e.g. 5,275.) 2020 2021 Depreciation Expense $ $
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