Crafters Corp. purchased a new car on October $1,2023,$ for $$101,000.$ The estimated useful life of the car was $10$ years or $500,000$ kilometers. Estimated residual value was $$6,000.$ The car was driven $15,000$ kilometers in $2023.$Required: Assuming Crafters Corp. calculates depreciation to the nearest whole month, determine depreciation expense for the year ended December $31,2023,$ using each of the following methods:$($Round intermediate calculations to $3$ decimal places and your final answer to $2$ decimal places where applicable.$)$ Show all of your calculations.$*$ Units$-$of$-$production$*$ Double$-$declining balance
 

Answer rating: 100% (QA)

To calculate the depreciation expense for the year ended December 31 2023 for Crafters Corps new car ... View the full answer