Big M's BBQ purchased a truck for $51,000 on 1/1 in Year 1. The truck is expected to have a five-year life or last 100,000 miles and have a residual value of $10,000. The truck was driven as follows for year 1 & 2: Year 1- 29,000 miles • Year 2 11,000 miles If the activity based depreciation method is used, what will be the book value of the truck at the end of Year 2 on 12/31? 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 your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123

Big M's BBQ purchased a truck for $51,000 on 1/1 in Year 1. The truck is expected to have a five-year life or last 100,000 miles and have a residual value of $10,000. The truck was driven as follows for year 1 & 2: Year 1- 29,000 miles • Year 2 11,000 miles If the activity based depreciation method is used, what will be the book value of the truck at the end of Year 2 on 12/31? 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 your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123

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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