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On January 1, 2016, Trusty Delivery Service purchased a truck at a cost of $...

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Accounting

On January 1, 2016, Trusty Delivery Service purchased a truck at a cost of $ 95, 000. Before placing the truck in service, Trusty spent $ 3 000 painting it, $1 200 replacing tires, and $ 9800 overhauling the engine. The truck should remain in service for five years and have a residual value of $ 10000. The truck's annual mileage is expected to be 26 000 miles in each of the first four years and 19 750 miles in the fifth year 123,750 miles in total. image

pare a depreciation schedule using the double-declining-balance (DDB) method (Round depreciation expense to the nearer ouble Declining Balance Depreciation Schedule Depreciation for the Year Asset Book DDB Depreciation Accumulated Book Date Cost Value Rate Expense Depreciation Value 1-1 2016 95,000 95.000 1231 2016 12.312017 1231 2018 1231 2019 1231 2020 Requirement 2. Trusty prepares financial statements using the depreciation method that reports the highest net income in the eary years of as method It produces the The depreciation method that repons the highest net income in the first year is the Choose from any list or enter any number in the mput tields and then continue to the next guestron yavascript dot ints useli)

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