Depreciation for Partial Periods Storm Delivery Company purchased a new delivery truck for $51,000 on...
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Depreciation for Partial Periods Storm Delivery Company purchased a new delivery truck for $51,000 on April 1, 2019. The truck is expected to have a service life of 5 years or 120,000 miles and a residual value of $3,000. The truck was driven 12,000 miles in 2019 and 18,000 miles in 2020. Storm computes depreciation expense to the nearest whole month. Required: Compute depreciation expense for 2019 and 2020 using the following methods: (Round your answers to
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