A company purchased a new truck at a cost of 42000 on july, Ask an Expert

Accounting

A company purchased a new truck at a cost of $42,000 on July 1, 2011. The truck is estimated to have a useful life of 6 years and a salvage value of $3,000. How much depreciation expense will be recorded for the truck for the year ended December 31, 2011?

a) $3,250

b) $3,500

c) $4,000

d) $6,500

e) $7,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947213

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