Farr Company purchased a new van for floral deliveries on January 1, 2012. The van cost $48,000 with an estimated life of 5 years and $12,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2012?
Farr Company purchased a new van for floral deliveries on January 1, 2012. The van cost $48,000 with an estimated life of 5 years and $12,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2012?
Related questions
On January 1, 2016, Pearson Company purchased a delivery truckfor $64,000. The van was estimated to have a 5-year useful life or100,000 miles. Salvage value was estimated at $4,000. The van wasdriven 25,000 miles in 2016 and 22,000 miles in 2017. Which of thefollowing is an incorrect statement? |
Depreciation expense for 2017 using the units-of-productionmethod is $13,200.
Depreciation expense for 2016 using the double-declining-balancemethod is $25,600.
Depreciation expense for 2017 using the double-declining-balancemethod is $14,400.
Depreciation expense for 2016 using the units-of-productionmethod is $15,000.
