Solution-Prepare a depreciation schedule for the unit of

Prepare a depreciation schedule for the unit of production

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Question - On January 1, 2018, Flowers 'R Us purchased a truck at a cost of $90,000. Before placing the truck in service, Flowers spent $3,000 painting it, $500 replacing tires, and $5,500 overhauling the engine. The truck should remain in service for five years and have a residual value of $9,000. The truck's annual mileage is expected to be 21,000 miles in each of the first four years and 16,000 in the fifth year (100,000 miles in total). In deciding which depreciation method to use, you are asked to provide a depreciation schedule for the straight-line and units-of-production methods.

Required - Prepare a depreciation schedule for the UNIT OF PRODUCTION METHOD showing asset cost, depreciation expense, accumulated depreciation, and asset book value.

Reference no: EM132514243

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Prepare a depreciation schedule for the unit of production

Reference no: EM132514243

Reference no: EM132514243

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