Question
Vaughn Group purchases a vehicle at a cost of $52,390 on January 2, 2017. Individual components of the vehicle and useful lives are as follows.
Vaughn Group purchases a vehicle at a cost of $52,390 on January 2, 2017. Individual components of the vehicle and useful lives are as follows.
| Cost | Useful Lives | ||||
| Tires | $5,820 | 2 years | |||
| Transmission | 10,550 | 5 years | |||
| Trucks | 36,020 | 10 years |
(Assume no residual (salvage) value.)
Compute depreciation expense for 2017, assuming Vaughn depreciates the vehicle as a single unit.
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Managing The Audit Function A Corporate Audit Department Procedures Guide
Authors: Michael P. Cangemi, Tommie W. Singleton
3rd Edition
0471281190, 978-0471281191
