Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. question 4 pharoah ltd. purchased a delivery truck

Question 4 Pharoah Ltd. purchased a delivery truck on May 1, 2018, at a cost...

80.2K

Verified Solution

Question

Accounting

image
Question 4 Pharoah Ltd. purchased a delivery truck on May 1, 2018, at a cost of $81,720. The truck is expected to have a residual value of $8,080 at the end of its 4-year useful life. Pharoah has a December 31 year end. Calculate the depreciation expense using the diminishing-balance method for 2018 and 2019. Assume the depreciation rate is equal to one time the straight-line rate. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation expense 2018 13620 2019

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

A 0.450 g sample of impure CaCO3 is dissolved in 50.0mL of 0.150M HCl. CaCO3 + 2HCl...

Chemistry
Q

can someone please solve this using the rules of inference, implication, replacement! and this is...

Basic Math
Q

1 5 2 2 5 2 0 3 1 2 1 9 2 Simplify 5...

Statistics
Q

77 An article in the San Jose Mercury News stated that students in th California...

Statistics
Q

Determine whether or not the ordered pair satisfies the equation 4x 2y 8 A 0...

Algebra
Q

When all fixed manufacturing costs and variable manufacturing costs are included as inventoriable costs, the...

Accounting
Q

In 2011, Parla Corporation sold land to its subsidiary, Sidd Corporation, for $38,000. It had...

Accounting
Q

Romaine Inc. uses a standard cost accounting system. The standard factory overhead rate was computed...

Accounting
Q

Corrientes Company produces a single product in its Buenos Aires plant that currently sells for...

Accounting
Q

List 10 more variables that are utilized to determine home prices, at least three for...

Accounting
Q

in early 2021, Facebook's market/book ratio was roughly 6.5. A market/book ratio that much greater...

Finance
Q

You have acquired a new CT scanner at a cost of $750,000. You expect to...

Finance