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Question 115 points) Gomma Enterprises purchased a delivery truck January 1, 2018 for 1990 The truck was expected to have a useful life of 10
Question 115 points) Gomma Enterprises purchased a delivery truck January 1, 2018 for 1990 The truck was expected to have a useful life of 10 years and are of $10,000 On January 1, 2022 the accumulated depreciation balance on the truck wa $16,000 and the 2022 depreciation is calculated as $4.000. During 2022 Gomma had the following transactions related to the truck 1. Oil and filter change $800 2. Engine overhaul $7,500 which will extend the useful lite ol the truck by years. The residual value has been revised to $12.500 3. Insurance $2,500 4. Licence plate renewal $175 - Calculate the carrying value of the truck on December 31, 2022. Ourly home calculations for numbers that are not given
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