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Use the following data to answer questions 7 ) January 1, 2001 ABC, Inc. purchased a $30,000 delivery truck. it has an estimated useful life
Use the following data to answer questions 7 ) January 1, 2001 ABC, Inc. purchased a $30,000 delivery truck. it has an estimated useful life of eight years. #has an estimated useful life of 120.000 miles is actual miles driven were 15,000 in year 1 20,000 in year 2 10.000 in year 3 5.000 in year 4 12.000 in years 38,000 in year 20,000 in year 7 15,000 in years *Its salvage value is $10,000 1) Calculate the year 4 Depreciation Expense using the Straight-Line method. ) Calculate the year 5 Accumulated Depreciation using the Units-of-Production method. 1) Calculate the year 6 Book Value using the Double-Declining-Balance method
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