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Determine depreciation expense and the book value

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Question - On March 1st, 2017 The Yoda Company purchased a delivery truck for $80,000.  The truck is expected to last 8 years, with a $4000 salvage.  Yoda plans to drive the truck 500,000 miles; in 2017 the truck was driven 60,000 miles: in 2018 101,000 miles 

a) Using straight-line depreciation determine depreciation expense and the book value of the truck on: 31-Dec-17 31-Dec-18.

b) Using units of activity depreciation determine depreciation expense and the book value of the truck on: 31-Dec-17 31-Dec-18.

c) On January 1st 2019 Yoda sold the truck for $63,500. What gain or loss does Yoda show on the sale if they use straight line depreciation?

Reference no: EM131570066

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