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IrinaVladis [17]
3 years ago
9

Bramble Corp. purchased a truck at the beginning of 2020 for $109000. The truck is estimated to have a salvage value of $3700 an

d a useful life of 121000 miles. It was driven 21000 miles in 2020 and 29000 miles in 2021. What is the depreciation expense for 2021
Business
1 answer:
Mariulka [41]3 years ago
4 0

Answer:

2020 = 18275.206

2021 = 25237.190

Explanation:

Cost of truck at beginning of 2020 = $109,000

Salvage value = $3700

Useful life = 121,000 miles

Miles driven in 2020 = 21000

Miles driven in 2021 = 29000

Depreciation expense 2020:

((Cost of asset - salvage value) / useful life) * miles driven in 2020

((109,000 - 3700) / 121000) * 21000

0.8702479 * 21000 = 18275.206

Depreciation expense 2021:

((109,000 - 3700) / 121000) * 29000

= 25237.190

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