Edit View History Bookmarks Window Help Weygandt, Financial Accounting, 8e FINAN

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Edit View History Bookmarks Window Help Weygandt, Financial Accounting, 8e FINANCIA ssignment Briet Exercise 9-3 Weller Company acquires a delivery truck at a cost of $59,600. The truck is expected to have a salvage value of $14,600 at the end of its 4-year useful life Compute annual depreciation for the first and second years using the straight-ine method. Annual depreciation for the first and second years s Click if you would like to Show Work fer this question: Open how Work Question Attempts: O of 3 used SAVE POR LAT MacBook A 3 5 8

Explanation / Answer

SOLUTION

Year -1

Depreciation = (Cost - Salvage value) / Estimated useful life

= ($59,600 - $14,600) / 4 years

= $45,000 / 4 years = $11,250

Year -2

Depreciation = (Cost - Salvage value) / Estimated useful life

= ($59,600 - $14,600) / 4 years

= $45,000 / 4 years = $11,250

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