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Calculate depreciation expense for the truck

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Reference no: EM133122532

Question - ABC Corp. purchased a delivery truck for $110,000 on August 1, 2016. ABC estimates that the truck will have a 10 year useful life and a salvage value of $11,000.

Required -

a. Calculate depreciation expense for the truck for 2016 and 2017 using the sum-of-the-years'-digits method.

b. Calculate depreciation expense for the truck for 2016 and 2017 using the double declining balance method.

Reference no: EM133122532

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