(Answered) Question - cullumber ltd purchased a delivery truck on may

Accounting

Question - Cullumber Ltd. purchased a delivery truck on May 1, 2018, at a cost of $85,640. The truck Is expected to have a residual value of $3330 at the end of its 4-year useful life. Cullumber has a December 31 year end. Calculate the depreciation expense using the diminishing-balance method for 2015 and 2019. Assume the depreciation rate is equal to one time the straight-line rate.

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