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Calculate depreciation expense for the year ended december

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Question - Jackal Energy purchased a transport truck on January 1, 2020, for $328,800 cash. Its estimated useful life is five years or 340,000 kilometres with an estimated residual value of $53,400.

Required - Calculate depreciation expense for the year ended December 31, 2020, using each of the following methods:

a. Straight-line

b. Double-declining-balance

c. Units-of-production (assume 32,000 kilometres were actually driven in 2020).

Reference no: EM133071183

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