Fernandez Corporation purchased a truck at the beginning of 2012 for $43,260. Th

Question

Fernandez Corporation purchased a truck at the beginning of 2012 for $43,260. The truck is estimated to have a salvage value of $2,060 and a useful life of 164,800 miles. It was driven 23,690 miles in 2012 and 31,930 miles in 2013. Compute depreciation expense for 2012 and 2013.(Round answers to 0 decimal places, i.e. 2,250.)

Question 18 Fernandez Corporation purchased a truck at the beginning of 2012 for $43,260. The truck is estimated to have a salvage value of $2,060 and a useful life of 164,800 miles. It was driven 23,690 miles in 2012 and 31,930 miles in 2013. Compute depreciation expense for 2012 and 2013.(Round answers to 0 decimal places, i.e. 2,250.)

Explanation / Answer

depreciation expense for 2012 = (43260-2060)*(23690/164800) = 5922.5

depreciation expense for 2012 = (43260-2060)*(31930/164800) =7982.50

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