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On July 1,2023, Waterway's Greenhouse purchased a new delivery truck for $100,000. She paid $20,000 cash and signed a promissory note for the remainder. Waterway
On July 1,2023, Waterway's Greenhouse purchased a new delivery truck for $100,000. She paid $20,000 cash and signed a promissory note for the remainder. Waterway estimates that the delivery truck will have a five-year useful life, or 112,500kilometres and a residual value of $10,000. Waterway's Greenhouse has a December 31 year end. Waterway drove the truck 9,000km in 2023 ; 25.000km in 2024:26,000 in 2025:25,000 in 2026, and 28,500 in 2027. (a) Your answer is partially correct. Prepare a depreciation schedule for the life of the asset under each of the following methods: 1. straight-line method 2. double diminishing-balance, and 3. units-of-production method 2. DOUBLE DIMINISHING-BALANCE METHOD (Round depreciable amount per unit to 2 decimal places es. 5.27 and the final answers to 0 decimal places, es 5.276. The depreclation rate in the tabie below is the rate prior to any required pro-ration.) 1.STRAIGHT-LINEMETHOD
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