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Provide depreciation expense for year one

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A truck was purchased at the beginning of its fiscal year for $78,000 and Q3 had been depreciated for 2 years on a straight line basis with the assumption the truck would have a 6 year life and a residual value of $18,000. At the beginning of the 3rd year it was recognized the machine had only 3 years remaining life and the residual value would be $6,000. The company has a December 31 year end.

Question 1: Provide Depreciation expense for year 1,2 and 3

Reference no: EM132526113

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