Fabian Woodworks purchased a truck at a cost of $12,000. The truck has an estimated residual value
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Fabian Woodworks purchased a truck at a cost of $12,000. The truck has an estimated residual value of $2,000 and an estimated life of five years, or 100,000 hours of operation. The truck was purchased on January 1, Year 1, and was used for 27,000 hours in Year 1 and 26,000 hours in Year 2. Refer to Fabian Woodworks. If the company uses the double-declining-balance depreciation method, what is the depreciation expense for Year 2?
a.S2,880
b.$2,000
c.$4,800
d.S1,728
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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