Problemhale eva pizza has a nissan truck that theyve owned, Ask an Expert

Accounting

Problem:

Hale Eva Pizza has a Nissan truck that they've owned for 6 years and uses it for deliveries on the west side of Oahu. The original purchase price of the truck six years ago was $18,000 and Hale Eva expected to use the truck for ten years at which time they planned to sell it for $3,000. As of the last Balance Sheet date Hale Eva had reported accumulated depreciation of $8,000 on the truck using mileage as a factor in depreciation calculation.

Required:

Question: What is the current book value of the truck?

A. $15,000

B. None of the other answers

C. $10,000

D. $18,000

E. $8,000

Note: Please provide through step by step calculations.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165382

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