Mango Inc. purchased a new truck on Oct 1, 2011 for $75,000. The truck had...
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Accounting
Mango Inc. purchased a new truck on Oct 1, 2011 for $75,000. The truck had estimated life of 5 years with an estimated residual value of $5,000. Prepare the depreciation tables which includes depreciation expenses, accumulated depreciation and book value over the asset's life under straight line, double decline balance methods and sum-of-years digits assuming Mango record depreciation to the closest whole month for assets placed in service during the year.
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