Ayayai Corporation purchased a truck at the beginning of 2023 for $37,800. The truck is estimated to have a residual value of $3,000 and a useful life of 290,000 km. It was driven for 69,000 km in 2023 and 77,000 km in 2024. (a) Your answer is correct. Calculate depreciation expense for 2023 and 2024 using the units of production method. (Round depreciation per km to 4 decimal places, e.g. 15.1254 and round final answers to O decimal places, e.g. 5,275.) Depreciation expense $ 2023 8280 $ 2024 9240

Ayayai Corporation purchased a truck at the beginning of 2023 for $37,800. The truck is estimated to have a residual value of $3,000 and a useful life of 290,000 km. It was driven for 69,000 km in 2023 and 77,000 km in 2024. (a) Your answer is correct. Calculate depreciation expense for 2023 and 2024 using the units of production method. (Round depreciation per km to 4 decimal places, e.g. 15.1254 and round final answers to O decimal places, e.g. 5,275.) Depreciation expense $ 2023 8280 $ 2024 9240

Name: (b)X Your answer is incorrect.For tax purposes, the asset is consider
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Description: (b)X Your answer is incorrect.For tax purposes, the asset is considered eligible equipment for the Accelerated Investment Incentive. The asset's CCA rate is30%. Calculate the CCA for 2023 and 2024.Capital Cost Allowance (CCA) $20235670A20249639 Ayay

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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