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August 2, 2015

Homework Help: Algebra

Posted by Trish on Friday, August 16, 2013 at 6:03pm.

A light truck is purchased on January 1 at a cost of $19,000. It is expected to serve for five years and have a salvage value of $1,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods:
Depreciation Expense
Year 1 Year 3
1.Straight-line 3600 3600
2.Double-declining-balance $ $
3.Sum-of-the-years'-digits $ $


I have tried the examples in my book but I am not getting the correct solution. I want to understand what I am doing from start to finish because I have a whole chapter on depreciation. Please help.

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