Speedy Taxi Service uses the units-of-production method in calculating depreciation on its taxicabs. Each cab...
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Speedy Taxi Service uses the units-of-production method in calculating depreciation on its taxicabs. Each cab is expected to be driven 551,000km. Taxi 10 cost $42,969 and is expected to have a residual value of $4,950. Taxi 10 is driven 90,000km in 2023 , and 138,000 km in 2024. (a) Calculate the depreciable amount per kilometre. (Round depreciable amount per unit to 3 decimal places, e.g. 5.276.) Depreciable cost per kilometre $ //km. (b) Calculate the depreciation expense for 2023 and 2024. Depreciation-2023$ Depreciation-2024$
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