On June 1st, 20x8 Alice Corporation purchased a new truck to deliver their photography and art...
On June 1st, 20x8 Alice Corporation purchased a new truck to deliver their photography and art for $45587. Its useful life is estimated to be 4 years or 351411 km with a residual value of $21836. The km driven in 20x8 are 81967 and 101961 in 20x9. What is the depreciation expense in 20x8 if Alice uses the units-of-production method?
Homework Answers
Answer: $5,540
Working:
Units of production depreciation:
= (Cost of assets – salvage value)/ total number of KM
= ($ 45587 - $ 21,836)/351411 km
= $ 23751/351411
Depreciation rate per km is $ 0.0676
Depreciation expense in 20x8=$ 0.0676*81967
= $ 5,540
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