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Tasty Subs acquired a food service truck on October 1, 2024, for $23,500. The company estimates a residual value of $2,500 and a four-year
Tasty Subs acquired a food service truck on October 1, 2024, for $23,500. The company estimates a residual value of $2,500 and a four-year service life. It expects to drive the truck 150,000 miles. Actual mileage was 5,400 miles in 2024 and 19,800 miles in 2025. Required: Calculate depreciation expense using the activity-based method for 2024 and 2025, assuming a December 31 year-end. (Do not round your intermediate calculations.) 2024 2025 Depreciation expense
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
