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Question One--Sum of the Year's Digits On March 31st,2018, Flores Flowers buys...

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Accounting

Question One--Sum of the Year's Digits
On March 31st,2018, Flores Flowers buys a delivery truck for $40,000. The delivery truck will have a useful life of 5 years and a residual value of $5,000. Prepare a depreciation table using the sum-of-the-year's digits method.
Part One
Prepare Flores Flower's deprectiation table for the delivery truck.
Year
Depreciation Base
Depreciation Fraction
Annual Depreciation Expense
Partial Year
Current Year Depreciation Expense
Accumulated Depreciation
Book Value, End of Year
2018
2019
2020
2021
2022
2023
Part Two
Record Flores' December 31st,2018 journal entry to account for the depreciation on the delivery truck during the year.

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