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QUESTION 14 w Suniver's Surf Company has purchased a new vehicle to transport their inventory to the shops The data we Purchase price 550.000 Salvage value 55.000 Estimated useful le 5 years Depreciation method Straight-line Question: The depreciation expense for the THIRD year is: 59,000 $10,000 $23,000 $5,000 QUESTION 15 their inventory to their shops. The detail are as follows Keeping with the previous question. Summer's Surf Company has just purchased a new vehicle Purchase price 550.000 Salvage value Estimated useful life 5 years Depreciation method Straight-line 35.000 Question: What is the book value of the asset at the end of FIVE years? $0 550.000 $5.000 $2.500 QUESTION 16 Keeping with the previous question, Summer's Surf Company has just purchased a new vehicle to transport their inventory to their shops. The detail are as follows Purchase price 550.000 Salvage value $5,000 Estimated useful to 5 years Depreciation method Straight line Question: What is the value of Accumulated Depreciation at the end of year FOUR $36,000 $5,000 30 $27.000 QUESTION 17 Keeping with the previous question Summer's Surf Company has just purchased a new vehicle to transport their inventory to their shops. The detail are as follows Purchase price s $50, 000 on K S Salvage value $5,000 Estimated useful life 5 years Depreciation method Straight-line Question. At the end of year five, the vehicle is sold for $7.000, what impact does this sale have on the income statement No impact A gain of $2.000 A loss of $2000 A loss of $43.000

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