Cullumber Chemicals Company acquires a delivery truck at a cost of $ 20,400 on January 1, 2022.
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Question:
Cullumber Chemicals Company acquires a delivery truck at a cost of $20,400 on January 1, 2022. The truck is expected to have a salvage value of $4,500 at the end of its 4-year useful life.
Compute annual depreciation for the first and second years using the straight-line method.
First Year | Second Year | |||
---|---|---|---|---|
Annual depreciation under straight-line method | $enter the depreciation for the first year rounded to 0 decimal places in dollars | $enter the depreciation for the second year rounded to 0 decimal places in dollars |
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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