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Required Complete the schedule (round only your final answers). CHECK FIGURE: Dec. 31, 2024 Deprec. Exp. =$21,160 NeverLate Ltd. completed the following transactions involving delivery
Required Complete the schedule (round only your final answers). CHECK FIGURE: Dec. 31, 2024 Deprec. Exp. =$21,160 NeverLate Ltd. completed the following transactions involving delivery trucks: Mar. 262023 Paid cash for a new delivery truck, $92,000 plus $4,200 of freight costs. The truck was estimated to have a five-year life and a $10,000 trade-in value. Dec. 312023 Recorded straight-line depreciation on the truck to the nearest whole month. Dec. 312024 Recorded straight-line depreciation on the truck to the nearest whole month. However, due to new information obtained early in January, the original estimated useful life of the truck was changed from five years to four years, and the original estimated trade-in value was increased to $14,500
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