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Calculate depreciation expense using the units of production

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Reference no: EM132818345

Bridgeport Corporation purchased a truck at the beginning of 2020 for $75,000. The truck is estimated to have a residual value of $3,000 and a useful life of 300,000 km. It was driven for 68,000 km in 2020 and 83,000 km in 2021.

Problem 1: Calculate depreciation expense for 2020 and 2021 using the units of production method

Problem 2: For tax purposes, the asset's capital cost allowance (CCA) rate is 30%. Calculate the CCA for 2020 and 2021.

Reference no: EM132818345

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