Question
The Chuck Company purchased a truck on January 1, 2016. The truck cost $106,000 and was expected to have a residual value of $14,000 at
The Chuck Company purchased a truck on January 1, 2016. The truck cost $106,000 and was expected to have a residual value of $14,000 at the end of 2018. Chuck uses the 150%-declining-balance depreciation method. What amount of depreciation should Chuck record on the truck in 2016?
| A). | $53,000 |
| B). | $30,667 |
| C). | $35,333 |
| D). | $46,000 |
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Survey of Accounting
Authors: Edmonds, old, Mcnair, Tsay
2nd edition
9780077392659, 978-0-07-73417, 77392655, 0-07-734177-5, 73379557, 978-0073379555
