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Calculate depreciation expense using the units-of-production

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On July 1, 2020 Waterway's Greenhouse purchased a new delivery truck for $70,000. Waterway estimates that the delivery truck will have a five-year useful life, or 126,000 kilometres, and a residual value of $7,000. Waterway's Greenhouse has a December 31 year end. Waterway drove the truck 14,000 km in 2020 and 30,000 km in 2021.

Problem 1: Calculate depreciation expense using the straight-line method for 2020 and 2021.

Problem 2: Calculate depreciation expense using the double-diminishing-balance method for 2020 and 2021.

Problem 3: Calculate depreciation expense using the units-of-production method for 2020 and 2021.

Reference no: EM132965322

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