Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 61

Finx, Inc., purchased a truck for $40,000.he truck is expected to be driven 15,000 miles per year over a five-year period and then sold for approximately $5,000.etermine depreciation for the first year of the truck's useful life by the straight-line and units-of-output methods if the truck is actually driven 16,000 miles.Round depreciation per mile for the units-of-output method to the nearest whole cent.)