On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck....
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Accounting
On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four-year useful life and an $8,000 salvage value. If Marino uses the straight-line method, the amount of depreciation expense recognized in the Year 2 income statement is?
Dillard Co. starts Year 2 with $24,000 balance in both cash and retained earnings. On Jan. 1, Year 2 Dillard paid $24,000 cash to purchase a computer. The computer has a useful life of 3 years and a salvage value $3,000. On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four-year useful life and an
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