Problem 2 Calculate the depreciation expense for the first three years of the following Assets usnig the Depreciation method in each case Use the straight line method. Purchased a Car for $24,000 The car has a Salvage value of $4.000 The car would last for 10 years DATE GENERAL JOURNAL PAGE 53 PR DEBIT CREDIT PARTICULARS Adjusting entries Depreciation Expense. Car Accumulated Depreciation - Net Book Value Year 1 Year 1 2 3 Year 2 Show the fola here Year GENERAL JOURNAL PAGI 53 Problem Calculate the depreciation expense for the first three years of the following Assets ung the Depreciation method in each case Use the Declining balance method. Purchased a Car for 34000 The car has a Salvage value of $4,000 The car would last for 10 years DATE The Depreciation rate is 10% Year Depreciation Expense. Car Accumulated Depreciation Net Book Value Year 1 2 3 P.R DEBIT CREDIT PARTICULARS Adjusting wires 1 Yea 2 Year