A delivery truck was purchased on june 1 2009 for 100000 it

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The following information is available for Queen Company, which has an accounting year-end on December 31, 2011.

1. A delivery truck was purchased on June 1, 2009, for $100,000. It was estimated to have a $10,000 salvage value after being driven 120,000 miles. During 2011, the truck was driven 20,000 miles. The units-of-activity method of depreciation used.

2. A building was purchased on January 1, 1984, for $3,000,000. It is estimated to have a $30,000 salvage value at the end of its 40-year useful life. The straight-line method of depreciation is being used.

3. Store equipment was purchased on January 1, 2010, for $210,000. It was estimated that the store equipment would have a $21,000 salvage value at the end of its 5-year useful life. The double-declining balance method of depreciation is being used.

Reference no: EM13582398

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