fatback7063
09.12.2020 •
Business
On January 1, Year 1, Missouri Co. purchased a truck that cost $32,000. The truck had an expected useful life of 10 years and a $3,000 salvage value. Missouri uses the double declining-balance method. What is the amount of depreciation expense recognized in Year 2?
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Ответ:
Annual depreciation= $4,640
Explanation:
Giving the following information:
Purchase price= $32,000
Useful life= 10 years
Salvage value= $3,000
To calculate the depreciation expense, we need to use the following formula each year:
Annual depreciation= 2*[(book value)/estimated life (years)]
Year 1:
Annual depreciation= 2*[(32,000 - 3,000) / 10]
Annual depreciation= $5,800
Year 2:
Annual depreciation= 2*[(29,000 - 5,800)/10]
Annual depreciation= $4,640
Ответ:
A ITS RAPSTAR
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