Please do not give solution in image format thanku On July 1, 2023 Pearl's Greenhouse purchased a new delivery truck for $100,000. Pearl estimates that the delivery truck will have a five-year useful life, or 225.000kilometres, and a residual value of $10,000. Pearl's Greenhouse has a December 31 year end Pearl drove the truck 14,000 km in 2023 and 37,000 km in 2024(a)Calculate depreciation expense using the straight-line method for 2023 and 2024Depreciation Expense $20232024 Questui 1901 19(b)Save Tor LaterCalculate depreciation expense using the double diminishing-balance method for 2023 and 2024.Depreciation Expense $3 (d)Save for LaterDepreciation Expense $20232023$Calculate depreciation expense using the units-of-production method for 2023 and 2024. (Round depreciable amount per unit to 2 decimal places, eg Safinal answers to 0 decimal places, e.g. 5,275)$20242024AttemAttempts: 0 of 1 used

Depreciation :— It is the allocation of depreciable cost of asset over the life of asset.…

On July 1, 2023 Pearl's Greenhouse purchased a new delivery truck for $100,000. Pearl estimates that the delivery truck will have a five-year useful life, or 225.000 kilometres, and a residual value of $10,000. Pearl's Greenhouse has a December 31 year end Pearl drove the truck 14,000 km in 2023 and 37,000 km in 2024. (a) Calculate depreciation expense using the straight-line method for 2023 and 2024 Depreciation Expense $ 2023 2024

On July 1, 2023 Pearl's Greenhouse purchased a new delivery truck for $100,000. Pearl estimates that the delivery truck will have a five-year useful life, or 225.000 kilometres, and a residual value of $10,000. Pearl's Greenhouse has a December 31 year end Pearl drove the truck 14,000 km in 2023 and 37,000 km in 2024. (a) Calculate depreciation expense using the straight-line method for 2023 and 2024 Depreciation Expense $ 2023 2024

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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Question

Please do not give solution in image format thanku

On July 1, 2023 Pearl's Greenhouse purchased a new delivery truck for $100,000. Pearl estimates that the delivery truck will have a five-year useful life, or 225.000
kilometres, and a residual value of $10,000. Pearl's Greenhouse has a December 31 year end Pearl drove the truck 14,000 km in 2023 and 37,000 km in 2024
(a)
Calculate depreciation expense using the straight-line method for 2023 and 2024
Depreciation Expense $
2023
2024

Questui 1901 19
(b)
Save Tor Later
Calculate depreciation expense using the double diminishing-balance method for 2023 and 2024.
Depreciation Expense $
3 (d)
Save for Later
Depreciation Expense $
2023
2023
$
Calculate depreciation expense using the units-of-production method for 2023 and 2024. (Round depreciable amount per unit to 2 decimal places, eg Sa
final answers to 0 decimal places, e.g. 5,275)
$
2024
2024
Attem
Attempts: 0 of 1 used

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Step 1: Introduction

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Step 2: Working Note #1:- Straight Line Method

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Step 3: Working note #2:- Double diminishing method

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Step 4: Working Note #3:- Units of production method

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation

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