ACCT 2011-On 1 July 2011 Sprintfast Couriers, which has a year-end

by | Mar 18, 2020 | Uncategorized

On 1 July 2011 Sprintfast Couriers, which has a year-end of 30 June, purchased a delivery truck for use in its courier operations at a cost of $65 000. At the end of the truck’s useful life it is expected to have a residual value of $5000. During its six-year useful life, Sprintfast Couriers Limited expected the truck to be driven 246 000 kilometres

REQUIRED

Calculate the annual depreciation charge for each of the six years of the truck’s life using the following methods:

(a) the straight-line method

(b) the sum-of-digits method

(c) the declining-balance method

(d) the units-of-production method using kilometres as the basis of use and assuming the following usage:

YearKilometres

201228 000

201334 000

201442 000

2015 55 000

201668 000

2017 19 000

246 000

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