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On March 1, 2016 Iverson Company purchased a new delivery truck for $45,000. The delivery truck has an estimated useful life of five years and
On March 1, 2016 Iverson Company purchased a new delivery truck for $45,000. The delivery truck has an estimated useful life of five years and the salvage value was estimated to be $10,000. Instructions: Compute depreciation for 2016, 2017 and 2018 and the book value of the machine at December 31, 2018, (a)assuming the sum-of-the-years'-digits method is used. (b) double declining balance
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