Question
Sunland uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 296,100 km over its life. Taxi 10
Sunland uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 296,100 km over its life. Taxi 10 was purchased on March 1, 2020, for $30,120 and is expected to have a residual value of $510. Taxi 10 was driven 96 170 km in 2020 and 121 .070 km in 2021 . Sunland has a December 31 vear end. Calculate the depreciation expense on Taxi 10 for 2020 and 2021.
Depreciation expense
2020:
2021:
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
