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P5. Company Francela purchased a delivery truck on July 1, 2017 for $45,000. The estimated useful life of the vehicle is 3 years. What is
P5. Company Francela purchased a delivery truck on July 1, 2017 for $45,000. The estimated useful life of the vehicle is 3 years. What is the monthly amount of depreciation expense computed by the straight line method? __ (5 PTS) The company sells the truck on March 31, 2019 for $17,000. Fill in the required information on the schedule below and calculate the book basis of this asset. (5 PTS) Cost $45,000 Depreciation taken during 2017 (Six months in service) Depreciation taken during 2018 Depreciation taken during 2019 (Three months in service) Accumulated Depreciation as of 3/31/2019 Net Book Basis as of 3/31/2019 Fill in the required information on the schedule below and calculate the gain or loss on the disposal (sale) of this asset. (3 PTS) Asset Description Delivery Truck Selling Price Book Basis Gain/ (Loss)
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