On January 1,2012,a company buys a truck for $42,000 cash.It has estimated residual value of $2,000,and an estimated life of 8 years,or 200,000 miles.
-If the company uses double-declining-balance depreciation,please show the journal entry for the first year depreciation.
$$\begin{array} { | l | r | r | }
\hline \quad\quad\quad&\quad&\quad \
\hline \
\hline
\end{array}$$

Question

On January 1,2012,a company buys a truck for $42,000 cash.It has estimated residual value of $2,000,and an estimated life of 8 years,or 200,000 miles.
-If the company uses double-declining-balance depreciation,please show the journal entry for the first year depreciation.
 $$\begin{array} { | l | r | r | } 
\hline \quad\quad\quad&\quad&\quad \
\hline \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of On January 1,2012,a company buys a truck for $42,000 cash.It has estimated residual value of $2,000,and an estimated life of 8 years,or 200,000 miles.
-If the company uses double-declining-balance depreciation,please show the journal entry for the first year depreciation.
 $$\begin{array} { | l | r | r | } 
\hline \quad\quad\quad&\quad&\quad \
\hline \
\hline
\end{array}$$

On January 1,2012,a Company Buys a Truck for $42,000 Cash \begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}​​

On January 1,2012,a Company Buys a Truck for $42,000 Cash $\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$