Reference no: EM133066703
Question - Compute the depreciation expense for the following independent cases. Use the straight line method of depreciation.
1. Pedro Reyes purchased a delivery vehicle on January 1, 2016 amounting to 250,000. It is estimated that the vehicle will be useful for 10 years. The vehicle can be sold for 10,000 at the end of its useful life. If the accounting period being reported by Pedro is one (1) year from January- December 2016, how much is the depreciation Expense?
2. Pedro Reyes purchased a delivery vehicle on April 1, 2016 amounting to 250,000. It is estimated that the vehicle useful for 10 years. The vehicle can be sold for 10,000 at the end of its useful life. If the accounting period being reported by Pedro is one (1) year from January-December 2016, how much is the depreciation expense?
3. Pedro Reyes purchased a delivery vehicle on January 1, 2016 amounting to 250,000. It is estimated that the vehicle useful for 10 years. The vehicle can be sold for 10,000 at the end of its useful life. If the accounting period being reported by Pedro is one (1) month from (January 2016), how much is the depreciation expense for the month?
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