Sheridan Company purchased a delivery truck for $32,800 on January 1, 2020. The truck has...
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Accounting
Sheridan Company purchased a delivery truck for $32,800 on January 1, 2020. The truck has an expected salvage value of $1,800, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,400 in 2020 and 13,200 in 2021.
Compute depreciation expense for 2020 and 2021 using:
Double-declining-balance method:
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