Homework Answers
Depreciation under units of production method = (Cost - Residual value) * Miles driven in the year / Total estimated miles
Depreciation for 2015 = ($65,000 - $5,000) * 5,000 / 30,000 = $10,000
Depreciation for 2016 = ($65,000 - $5,000) * 3,000 / 30,000 = $6,000
Accumulated depreciation at the end of 2016 = $10,000 + $6,000 = $16,000
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