Homework Answers
The book value of the truck at the end of first year will be $24,000.
The computation will be as follows;
|
Value of truck |
$30,000 |
|
Expected life |
5 years |
|
- Depreciation |
$30,000/5 years= $6,000 |
|
Book value at the end of First Year |
$24,000 |
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