In: Accounting
A delivery truck was acquired on January 1, 2017, at a cost of $65,000. The delivery truck was originally estimated to have a residual value of $5,000 and an estimated life of five years. The truck is expected to be driven a total of 200,000 kilometers during its life, distributed as:
Year |
Number of Components 37,000 42,000 45,000 40,000 36,000 |
2017 |
|
2018 |
|
2019 |
|
2020 |
|
2021 |
Using the straight-line, units-of-production, and double-diminishing balance methods, answer the following questions.
Date |
Account Titles |
Debit |
Credit |