Bonita Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $115,520 and...

  

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Bonita Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $115,520 and was estimated to have a residual value of $900. It was estimated that the truck would be driven 521,000 kilometres for the company over its useful life of five years. During 2023, the truck was driven 97,100 kilometres, and 129,500 kilometres in 2024. Calculate depreciation expense for 2023 and 2024. (Round depreciation expense per kilometre to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,275.) Bonita Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $115,520 and was estimated to have a residual value of $900. It was estimated that the truck would be driven 521,000 kilometres for the company over its useful life of five years. During 2023, the truck was driven 97,100 kilometres, and 129,500 kilometres in 2024. Calculate depreciation expense for 2023 and 2024. (Round depreciation expense per kilometre to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,275.)

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The depreciable cost of the truck is ... View the full answer