Question
Will make sure to thumbs up! During the first two years, John Deere Manufacturing Company drove the company truck 19,500 and 25,100 miles, respectively, to
Will make sure to thumbs up! During the first two years, John Deere Manufacturing Company drove the company truck 19,500 and 25,100 miles, respectively, to deliver merchandise to its customers. The John Deere originally purchased the truck for $895,000. The truck has an estimated life of 10 years or 400,000 miles, and an estimated residual value of $15,000. At the end of the second year, what is the total amount of depreciation expense reported on the Income Statement, the total amount of accumulated depreciation reported on the Balance Sheet, and the book value of the truck using the units of production method?
Depreciation Expense
Accumulated Depreciation
Book Value
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