Mango Inc. purchased a new truck on Oct 1, 2011 for $110,000. The truck was placed in
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Mango Inc. purchased a new truck on Oct 1, 2011 for $110,000. The truck was placed in service on the same day. The truck had an estimated life of 5 years with an estimated residual value of $10,000. Use excel spreadsheet to prepare depreciation tables which include depreciation expenses, accumulated depreciation and book value of the truck over the asset's life under straight line, double decline balance and sum-of-years digits methods assuming. Mango record depreciation to the closest whole month for assets placed in service during the year.
Related Book For
Intermediate Accounting Reporting and Analysis
ISBN: 978-1285453828
2nd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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