On January 1,of the current year,Roadway Delivery Company purchased a truck for $20,000.Depreciation Expense is $1,000 per year.During the first year of use,the company paid $5,000 to repaint the truck and $1,600 for new tires.What is the total expense for the year ended December 31,end of current year?

Question

Quizplus · Accepted Answer

The total expense includes the depreciation expense of $1,000, the repainting cost of $5,000, and the cost of new tires $1,600, totaling $7,600.

On January 1,of the Current Year,Roadway Delivery Company Purchased a Truck