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Homework answers / question archive / KHS&R's Construction bought a truck on 1/1/at a cost of $38,000, an estimated salvage (residual) value of $9,000, and an estimated useful life of 4 years
KHS&R's Construction bought a truck on 1/1/at a cost of $38,000, an estimated salvage (residual) value of $9,000, and an estimated useful life of 4 years. The truck is being depreciated on a straight-line basis. At the end of year 3, what amount will be reported for accumulated depreciation? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc.. just enter the raw number. Webcourses will add commas to your answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123
| Answer | ||
| Cost | $ 38,000 | |
| Less: Salvage value | $ 9,000 | |
| Depreciable cost | $ 29,000 | |
| Divide by estimated useful life | 4 | |
| Annual Depreciation | $ 7,250 | |
| Accumulated depreciation At the end of year 3 | $ 21,750 | 7250*3 |
