Skysong Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $104,600 and was estimated to have a residual value of $1,000. It was estimated that the truck would be driven 518,000 kilometres for the company over its useful life of five years. During 2023, the truck was driven 95,100 kilometres, and 128,800 kilometres in 2024. Calculate depreciation expense for 2023 and 2024. (Round depreciation expense per kilometre to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,275.) Depreciation expense $ 2023 19,020 2024

Skysong Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $104,600 and was estimated to have a residual value of $1,000. It was estimated that the truck would be driven 518,000 kilometres for the company over its useful life of five years. During 2023, the truck was driven 95,100 kilometres, and 128,800 kilometres in 2024. Calculate depreciation expense for 2023 and 2024. (Round depreciation expense per kilometre to 2 decimal places, e.g. 0.25 and final answers to 0 decimal places, e.g. 5,275.) Depreciation expense $ 2023 19,020 2024

Name: Skysong Ltd. purchased a new delivery truck on January 1, 2023. The t
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Description: Skysong Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $104,600 and was estimated to have a residual valueof $1,000. It was estimated that the truck would be driven 518,000 kilometres for the company over its useful life of f

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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