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Question One: 30 marks Jefry's Boss purchased a small delivery truck on January 1, 2020. Cost $55,000 Expected residual value $4,000 Estimated useful life in

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Question One: 30 marks Jefry's Boss purchased a small delivery truck on January 1, 2020. Cost $55,000 Expected residual value $4,000 Estimated useful life in years 5 years Estimated useful life in miles 100,000 miles Instructions: Prepare the deprecation schedule using: 1- Straight line method 2- Double Declining method 1- Straight Line (15 marks) Year Depreciable Cost Annual Expense Book Value Accumulated Depreciation 2020 2021 2022 2023 2024 2- Double Declining Method ( 15 marks) Year Depreciable Cost Annual Expense Accumulated Depreciation Book Value 2020 2021 2022 2023 2024 2

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