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On 1 July 2015 Eagle Ltd, which has a year-end of 30 June, purchased a delivery truck for use in its courier operations at a cost of $65 000. At the end of the truck's useful life it is expected to have a residual value of $5000. During its six-year useful life, Eagle Ltd expected the truck to be driven 246 000 kilometres.
REQUIRED
Problem 1: Calculate the annual depreciation charge for each of the six years of the truck's life using the following methods:
a) the straight-line method
b) the sum-of-digits method
c) the declining-balance method
d) the units-of-production method using kilometres as the basis of use and assuming the following usage:
Year. Kilometres
2016. 28,000
2017. 34,000
2018. 42,000
2019 55,000
2020. 68,000
2021. 19,000
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