FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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I got the amount for 2023 correct but I keep getting the 2022 incorrect. I am not sure which numbers to use.

Wildhorse Company purchased a delivery truck for $48,000 on July 1, 2022. The truck has an expected salvage value of $2,000, and is
expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in
2023. Wildhorse uses the straight-line method of depreciation.
(a)
Your answer is partially correct.
Compute depreciation expense for 2022 and 2023.
Straight-line method
2022
Depreciation Expense
2023
5750
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Transcribed Image Text:Wildhorse Company purchased a delivery truck for $48,000 on July 1, 2022. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Wildhorse uses the straight-line method of depreciation. (a) Your answer is partially correct. Compute depreciation expense for 2022 and 2023. Straight-line method 2022 Depreciation Expense 2023 5750
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