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On January 1, 2020, Done Inc. purchased a Truck for $64,000. The estimated life of...

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Accounting

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On January 1, 2020, Done Inc. purchased a Truck for $64,000. The estimated life of the truck was 8 years, with an estimated residual value of $4,000 Compute the Depreciation exp depreciation, and Book value on this equipment for the years ending on December 31, 2020. Using the following method: Computations Straight- line Method Depreciation Expense Book Value Accumulated Depreciation 2020 Computations Straight line Method 2020 Depreciation Expense Accumulated Depreciation Book Value $(64,000+4,000Y8 $8.500 $ 8,500 $55,500 Computations Book Value O Straight line Method 2020 Depreciation Expense Accumulated Depreciation $64.00078 $8,000 $ 8.000 $56,000 Straight Computations Book Value Depreciation Expense Accumulated Depreciation line Method 2020 S(64,000-400078 57,500 $7,500 $56,500 Computations Book Value O Straight line Method 2020 Depreciation Expense Accumulated Depreciation S(64,000-8,00074 $14,000 $ 14,000 $50.000

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