Question
please make sure the answer is correct 100% Karnes Company purchased a truck for $44,000 on January 1 st 2020. The company expected the truck
please make sure the answer is correct 100%
Karnes Company purchased a truck for $44,000 on January 1st 2020. The company expected the truck to last 4 years or 100,000 miles, with an estimated residual value of $4,000 at the end of that time.
Question: Compute the depreciation expense for 2020, 2021, 2022 under each of the following methods and insert your final answer in the table below.
a) Straight line method .
b) Unit of activities method
The miles driven during 2020, 2021 and 2022 are:
10,000 miles in 2020, 15,000 miles in 2021 and 20,000 miles in 2022.
c) Declining balance method
Insert your final answer in this table
| Straight line | Unit of activities | Declining balance |
Year 2020 |
|
|
|
Year 2021 |
|
|
|
Year 2022 |
|
|
|
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