Saticoy Corporation purchased a truck for $50,000

by | Mar 18, 2020 | Uncategorized

  

Saticoy Corporation purchased a truck for $50,000. The company expected the truck to last five years or 100,000 miles, with an estimated residual value of $5,000 at the end of that time. During the second year, the truck was driven 23,000 miles.

Compute the depreciation for the second year under each of the following methods:

(a) straight-line,

(b) production, and

(c) double-declining-balance. (Show your work.)

  

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