Brief Exercise 9-5 Corales Company acquires a delivery truck at a cost of $49,600. The truck...
Brief Exercise 9-5 Corales Company acquires a delivery truck at a cost of $49,600. The truck is expected to have a salvage value of $3,800 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate.
Compute annual depreciation for the first and second years under the declining-balance method.
Homework Answers
Double declining rate = 200/Useful life = 200/5 = 40%
Depreciation for first year
= 49,600 * 40%
= 19,840
Depreciation for second year
= (49,600 - 19,840) * 40%
= 11,904
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