Multiple Choice
Transport Inc.has a fleet of 10 large trucks that cost a total of $1,410,000.The fleet is expected to be driven a total of 1,000,000 miles during its estimated 10-year life and be sold for $141,000 at the end of its useful life.If the fleet was driven 125,000 miles during the current year,what is the amount of depreciation that would be calculated using the straight-line and units-of-production methods,respectively?
A) $158,625 and $141,000
B) $141,000 and $158,625
C) $126,900 and $176,250
D) $126,900 and $158,625
Correct Answer:
Verified
Correct Answer:
Verified
Q95: A trucking company sold its fleet of
Q96: Which of the following does not lead
Q97: Why can depreciation expense be a different
Q98: Accumulated Depreciation is classified as a(n):<br>A)expense account.<br>B)contra-asset
Q99: When a company records depreciation it debits:<br>A)a
Q101: When S.Dee Company bought B.Darin Company,the purchase
Q102: Peppertree Co.'s financial statements on December 31,2018,showed
Q103: Why should a company divide up the
Q104: When assets are purchased as a group,the
Q105: Match each term with the appropriate definition.Not