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QUESTION
Straight-Line Depreciation A small delivery truck was purchased on January 1 at a cost of $25,000. It has an estimated useful life of four years and...
Straight-Line Depreciation
A small delivery truck was purchased on January 1 at a cost of $25,000. It has an estimated useful life of four years and an estimated salvage value of $5,000.
Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year under the straight-line method.
Small Delivery TruckDepreciation ScheduleOn January 1
Year
Depreciable Cost x
Rate (%) =
Depreciation ExpenseAccumulated Depreciation
(End of Year)
Book Value
(End of Year)1$$$$234
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