At the beginning of a fiscal year Flowers Company buys

At the beginning of a fiscal year, Flowers Company buys a truck for $ 28,000. The truck’s
estimated life is five years, and its estimated salvage value is $ 3,000. Required Using the
following four methods, determine the annual depreciation of the truck for each of the estimated
five years of life, the accumulated depreciation at the end of each year, and the book value of
the truck at the end of each year. Round annual depreciation to whole dollars. a. Straight-line
method b. Double-declining-balance method c. Units-of-production method (Useful life is
100,000 miles. Year 1 use is 10,000 miles, Year 2 use is 20,000 miles, Year 3 use is 40,000
miles, Year 4 use is 18,000 miles, and Year 5 use is 12,000 miles.) Round depreciation per unit
to two decimal places. Year 5 depreciation should be rounded to balance. d. MACRS method
(Assume that the asset was purchased after 1986 and is five-year property.) Year 6
depreciation should be rounded to balance.View Solution: At the beginning of a fiscal year
Flowers Company buys
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