Tasty Subs acquired a delivery truck on October 1, 2021, for $21,500. The company estimates a residual
Question:
Tasty Subs acquired a delivery truck on October 1, 2021, for $21,500. The company estimates a residual value of $2,500 and a six-year service life. It expects to drive the truck 100,000 miles. Actual mileage was 5,000 miles in 2021 and 19,000 miles in 2022.
Required:
Calculate depreciation expense using the activity-based method for 2021 and 2022, assuming a December 31 year-end.
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21500 2500 019mil...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-1259914898
5th edition
Authors: David Spiceland, Wayne M. Thomas, Don Herrmann
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