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Calculate depreciation expense using straight-line method

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Question - On July 1, 2020 Sweet Acacia's Greenhouse purchased a new delivery truck for $90,000. Sweet Acacia estimates that the delivery truck will have a five-year useful life, or 162,000 kilometres, and a residual value of $9,000. Sweet Acacia's Greenhouse has a December 31 year end. Sweet Acacia drove the truck 13,000 km in 2020 and 37,000 km in 2021.

Required -

-Calculate depreciation expense using the straight-line method for 2020 and 2021.

-Calculate depreciation expense using the double-diminishing-balance method for 2020 and 2021.

-Calculate depreciation expense using the units-of-production method for 2020 and 2021.

Reference no: EM133018968

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