On 01/01/2019 ABC Company purchase a truck for $140,000. The truck has a $50,000 salvage value...

Transcribed Image Text:

On 01/01/2019 ABC Company purchase a truck for $140,000. The truck has a $50,000 salvage value and a life of 4 years with estimated total miles of 200,000. Fill in the answers below: 1. How much is the depreciable base STRAIGHT-LINE: 2. How much is the ANNUAL depreciation expense 3. Complete the chart (25 points) Year 2019 2020 2021 2022 Depreciation Expense Accumulated Depreciated (5 points) (5 points) 4. How much is the depreciation expense per mile. 5. Complete the chart (25 points) Year Miles actually used mile 2019 2020 2021 2022 55,000 65,000 75,000 85,000 Dep. Exp per Annual Double Declining 6. How much is the double declining rate 2019 2020 2021 2022 7.Complete the chart (25 points) Year Cost of Accum. = Sum asset Deprec (5 points) Accumulated depreciation Depreciation expense (10 points) *Rate Depreciation Accumulated Expense Depreciation On 01/01/2019 ABC Company purchase a truck for $140,000. The truck has a $50,000 salvage value and a life of 4 years with estimated total miles of 200,000. Fill in the answers below: 1. How much is the depreciable base STRAIGHT-LINE: 2. How much is the ANNUAL depreciation expense 3. Complete the chart (25 points) Year 2019 2020 2021 2022 Depreciation Expense Accumulated Depreciated (5 points) (5 points) 4. How much is the depreciation expense per mile. 5. Complete the chart (25 points) Year Miles actually used mile 2019 2020 2021 2022 55,000 65,000 75,000 85,000 Dep. Exp per Annual Double Declining 6. How much is the double declining rate 2019 2020 2021 2022 7.Complete the chart (25 points) Year Cost of Accum. = Sum asset Deprec (5 points) Accumulated depreciation Depreciation expense (10 points) *Rate Depreciation Accumulated Expense Depreciation

Answer rating: 100% (QA)

1 The depreciable base is the initial cost of the truck minus the salvage value Depreciable base Ini... View the full answer