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  3. strand corp purchases a company vehicle on 7/1/19.

Strand Corp purchases a company Vehicle on 7/1/19. Cost = $70,000. Salavage value 10%. Est...

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Accounting

Strand Corp purchases a company Vehicle on 7/1/19. Cost = $70,000. Salavage value 10%. Est useful life = 5 years.
REQUIRED:
for year-end 12/31st for 2019 and 2020 only:
1) calculate Depreciation Exp using Straight-Line Depreciation for 2019 and 2020
2) using the Balance Sheet Equation or Journal Entries, do the accounting on 12/31/19 and 12/31/20
3) at the end of 12/31/20 show the asset's Net Book Value

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