Brief Exercise 9-8 Your answer is incorrect. Try again. Sheridan uses the units-

Question

Brief Exercise 9-8 Your answer is incorrect. Try again. Sheridan uses the units-of-production method to calculate depreciation on its taxicabs. Each cab is expected to be driven 322,900 km over its life. Taxi 10 was purchased on March 1, 2017, for $32,830 and is expected to have a residual value of $540. Taxi 10 was driven 129,600 km in 2017 and 110,710 km in 2018. Sheridan has a December 31 year end. Calculate the depreciation expense on Taxi 10 for 2017 and 2018. Year Depreciation expense 2017 2018

Explanation / Answer

Depreciation per km = (32830-540)/322900= 0.1 2017 12960 =129600*0.1 2018 11071 =110710*0.1

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