Question
Sunland Ltd. purchased a delivery truck on May 1, 2021, at a cost of $80,160. The truck is expected to have a residual value of
Sunland Ltd. purchased a delivery truck on May 1, 2021, at a cost of $80,160. The truck is expected to have a residual value of $7,460 at the end of its 4-year usetul life. sunland has a December 31 year end. Calculate the depreciation expense using the diminishing balance method for 2021 and 2022. Assume the depreciation rate is equal to one time the straight-ine rate. (Round answers to 0 decimal places, e.g. 5,275.)
Depreciation expense
2021:
2022:
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Cost Accounting
Authors: M.Y. Khan, P.K. Jain
2nd Edition
9339203445, 9789339203443
