Trusted by Students Everywhere
Why Choose Us?
0% AI Guarantee

Human-written only.

24/7 Support

Anytime, anywhere.

Plagiarism Free

100% Original.

Expert Tutors

Masters & PhDs.

100% Confidential

Your privacy matters.

On-Time Delivery

Never miss a deadline.

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

Accounting Nov 29, 2020

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

Expert Solution

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
     
     
     

 

Archived Solution
Unlocked Solution

You have full access to this solution. To save a copy with all formatting and attachments, use the button below.

Already a member? Sign In
Important Note: This solution is from our archive and has been purchased by others. Submitting it as-is may trigger plagiarism detection. Use it for reference only.

For ready-to-submit work, please order a fresh solution below.

Or get 100% fresh solution
Get Custom Quote
Secure Payment