Company acquires a delivery truck at a cost of $65,000 on January 1, 2022. The truck is
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Company acquires a delivery truck at a cost of $65,000 on January 1, 2022. The truck is expected to have a salvage value of $2,000at the end of its5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.
year 1 | year 2 | |
Annual depreciation expense |
Related Book For
Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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