Solved

Use the Following Information to Answer Questions

Question 27

Multiple Choice

Use the following information to answer questions
On September 1, 2010, Faster than R&G purchased a delivery truck for $42,000. The truck has a $3,000 salvage value and a five-year (or 60,000 miles) useful life. During 2010, the company put 8,700 miles on the delivery truck; the company put 16,100 miles on the truck in 2011. (Round all answers to the nearest dollar.)
-If Faster than R&G uses the double-declining balance method, how much depreciation expense should Faster than R&G recognize in 2010?


A) $ 5,200
B) $ 5,600
C) $ 6,500
D) $ 7,000
E) $15,600

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions