pter $3$ Homework $($i$)$

Help

Save

Exercise $3-23$A $($Algo$)$ Depreciation affecting multiple cycles LO $3-5$

On January $1,$ Year $1,$ Your Ride Incorporated paid $$37,000$ cash to purchase a taxi cab. The taxi had a five$-$year useful life and a $$4,400$ salvage value.

eBook

Required

Prime

a$.$ Determine the amount of depreciation expense that would appear on the Year $1$ and Year $2$ income statements.

b$.$ Determine the amount of accumulated depreciation that would appear on the Year $1$ and Year $2$ balance sheets.

$\backslash$table$[[,$Year $1,$Year $2],[$a$.$ Depreciation expense,,$],[$b$.$ Accumulated depreciation,,$]]$