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Calculate the depreciation expense for the second year

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Question - Norika Company purchased a truck for $36,000. The company expected the truck to have a useful life of four years or 100,000 kilometres, with an estimated residual value of $4,000 at the end of that time. During the first and second years, the truck was driven 25,000 and 31,500 kilometres, respectively. Calculate the depreciation expense for the second year under the straight-line, units-of-production, and double-diminishing-balance methods. Assume the purchase of the truck was made at the beginning of the first month of the first year.

Reference no: EM133107869

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