A roofing company purchased a work truck for $24,000 on 1/1. The truck is expected tohave a 3 year life and last 100,000 miles with a salvage (residual) value of $6,000. Thetruck was driven 25,000 in year 1. If the company uses the activity based method tocalculate depreciation expense, how much would the depreciation expense be for the firstyear of use?Fill in the blank with your calculated number. DO NOT include commas, $ signs, period,decimal points, etc., just enter the raw number. Webcourses will add commas to youranswer automatically. For example, if you calculated the answer to be $24,123, you wouldonly input: 24123ASUSf4E3f5E3f6f7f8f9f10f114.67.T.Y18因LO%24

A roofing company purchased a work truck for $24,000 on 1/1. The truck is expected to have a 3 year life and last 100,000 miles with a salvage (residual) value of $6,000. The truck was driven 25,000 in year 1. If the company uses the activity based method to calculate depreciation expense, how much would the depreciation expense be for the first year of use?

A roofing company purchased a work truck for $24,000 on 1/1. The truck is expected to have a 3 year life and last 100,000 miles with a salvage (residual) value of $6,000. The truck was driven 25,000 in year 1. If the company uses the activity based method to calculate depreciation expense, how much would the depreciation expense be for the first year of use?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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