Question

A truck costs $9,200 with a residual value of $1,000. It is estimated that the useful life of the truck is 4 years. The amount of depreciation expense in year 2 by using the declining-balance method at twice the straight-line rate is:

Answer 1

factor=2/n=2/4=0.5

Year Depreciable Basis Depreciation Calculation DepreciationExpense
1 9200 0.5*9200 4600
2 9200-4600=4600 0.5*4600 2300

The amount of depreciation expense in year 2 is 2300$

Answer 2

Thank You mukushla

Answer 3

your welcome