6. On January 1, 2016, Friedman Company purchased a truck that cost $48,000. The truck had...

 

Transcribed Image Text:

6. On January 1, 2016, Friedman Company purchased a truck that cost $48,000. The truck had an expected useful life of 8 years and an $8,000 salvage value. The book value of the truck at the end of 2016, assuming that Friedman uses the double declining balance method, is: A. $38,000. B. $38,400. C. $32,000. D. $36,000. 7. On January 1, Year 1, Friedman Company purchased a truck that cost $48,000. The truck had an expected useful life of 100,000 miles over 8 years and an $8,000 salvage value. During Year 2, Friedman drove the truck 15,000 miles. Friedman uses the units-of-production method. What is depreciation expense in Year 2? A. $8,880 B. $7,400 C. $6,000 D. $5,000 6. On January 1, 2016, Friedman Company purchased a truck that cost $48,000. The truck had an expected useful life of 8 years and an $8,000 salvage value. The book value of the truck at the end of 2016, assuming that Friedman uses the double declining balance method, is: A. $38,000. B. $38,400. C. $32,000. D. $36,000. 7. On January 1, Year 1, Friedman Company purchased a truck that cost $48,000. The truck had an expected useful life of 100,000 miles over 8 years and an $8,000 salvage value. During Year 2, Friedman drove the truck 15,000 miles. Friedman uses the units-of-production method. What is depreciation expense in Year 2? A. $8,880 B. $7,400 C. $6,000 D. $5,000

Answer rating: 100% (QA)

The detailed answer for the above question is provided below 6 The book value of the truck at the en... View the full answer