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Some trucks purchased by a U-Haul franchise should last 7 years. The purchase price was $176,000, Shipping costs were $5,000. The trade-in (salvage valan) is
Some trucks purchased by a U-Haul franchise should last 7 years. The purchase price was $176,000, Shipping costs were $5,000. The trade-in (salvage valan) is $21,000. Prepare a depreciation schedule by using the double-declining-balance method for the trucks. (Round dollar amounts to the nearest cent. Round your percentages to six decimal places.) U-Haul Double Declining Balance Depreciation Schedule Truck Fleet End of Year Beginning Book Value (5) Depreciation Rate (%) Depreciation for the Year ($) Accumulated Depreciation (5) Ending book value (5) 1 $ 2 $ 3 $ 4 5 6 ? % $181.000 (new) S 76 $ 5 $ % $ S $ $ s $
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