Speedy Delivery Service bought two new trucks. The following table shows the cost, scrap value,...
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Accounting
Speedy Delivery Service bought two new trucks. The following table shows the cost, scrap value, estimated life (in miles), and mileage for the first year. Using the straight-line method based on mileage driven, compute the first year's depreciation and the book value at the end of the first year for each truck. Do not round intermediate calculations. Round final answer to the nearest whole dollar.
Original Cost
Scrap Value
Estimated Life (miles)
Mileage for First Year
Depreciation for First Year
Book Value after 1 Year
a. $52,100
$2,500
160,000
21,400
$
$
b. $23,000
$600
80,000
16,500
$
$
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