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mestny [16]
3 years ago
5

Oriole Chemicals Company acquires a delivery truck at a cost of $32,000 on January 1, 2022. The truck is expected to have a salv

age value of $5,000 at the end of its 6-year useful life. Compute annual depreciation for the first and second years using the straight-line method. First Year Second Year Annual depreciation under straight-line method $enter the depreciation for the first year rounded to 0 decimal places in dollars $enter the depreciation for the second year rounded to 0 decimal places in dollars
Business
1 answer:
emmainna [20.7K]3 years ago
4 0

Answer:

$4,500

Explanation:

Depreciation expense using the straight line depreciation method = (Cost of asset - Salvage value) / useful life

($32,000 - $5,000)/6 = $4,500

The straight line depreciation method allocates the same deprecation expense for each year of the useful life of the asset.

Therefore, the depreciation expense each year would be $4,500.

I hope my answer helps you

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