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Calculate depreciation expense

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Reference no: EM132923190

Question - On March 1, 2020, a truck was purchased for $104,000. The truck had a salvage value of $6,000 and an estimated useful life of 9 years. Management estimates that the truck will travel 375,000 km over its entire life.

Management would like you to calculate depreciation expense using the three following methods.

-Straight line depreciation, for the year ended Dec. 31, 2020.

-Double declining balance depreciation for the year ended Dec. 31, 2020 and 2021.

-Units of production depreciation for 2020 assuming 50,000 km were actually driven

-between March 1, 2020 and December 31, 2020.

Reference no: EM132923190

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