The world’s Largest Sharp Brain Virtual Experts Marketplace Just a click Away
Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
BagODonuts Company bought a used delievery truck on Jan 1, 2010 for $19,200. The van was expected to remanin in service 4 years(30,000 miles). BagODonuts account estimated that the trucks residual value would be $2,400 at the end of its useful life. The truck traveled 8,000 miles the first year 8,500 miles the second year, 5,500 miles the third year, and 8,000 miles in the fourth .
1. Calculate depreciation expense for the truck for each year (2010-2013) using the:
a. straight line method
b. Double-declinging balance method
(round to the enarest two decimals after each step of the calculation)
2. Which method best tracks the wear and tear on the van?
3. Which method would BagODonuts prefer to use for income tax purpose? Explain in detail
Hel-----------lo -----------Sir-----------/Ma-----------dam-----------Tha-----------nk -----------You----------- fo-----------r u-----------sin-----------g o-----------ur -----------web-----------sit-----------e a-----------nd -----------and----------- ac-----------qui-----------sit-----------ion----------- of----------- my----------- po-----------ste-----------d s-----------olu-----------tio-----------n.P-----------lea-----------se -----------pin-----------g m-----------e o-----------n c-----------hat----------- I -----------am -----------onl-----------ine----------- or----------- in-----------box----------- me----------- a -----------mes-----------sag-----------e I----------- wi-----------ll