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What is the depreciation expense for the year ending

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Reference no: EM132496058

QAD Inc. bought a van on 1 of July 2018 for $35,000.

The useful life of the van is 5 years.

The residual value of the van is $5,000.

Required:

Question 1: If QAD Inc. is using the straight line method for depreciation, what is the Depreciation expense for the year ending 31 December 2019.

Question 2: If QAD Inc. is using the declining method for depreciation, with a 30% rate, what is the Depreciation expense for the year ending 31 December 2019.

Reference no: EM132496058

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