Speedy Taxi Service uses the units-of-production method in calculating depreciation on its taxicabs. Each cab is expected
Question:
Speedy Taxi Service uses the units-of-production method in calculating depreciation on its taxicabs. Each cab is expected to be driven 550,000 km. Taxi 10 cost $38,950 and is expected to have a residual value of $4,300. Taxi 10 is driven 90,000 km in 2023 and 135,000 km in 2024. Calculate
(a) The depreciable amount per kilometre (use three decimals),
(b) The depreciation expense for 2023 and 2024.
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Related Book For 
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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