Question

a company purchased a new truck for $84,000 on july 1. the truck is estimated to have a useful life of 6 years and a salvage value of $12,000. using the straight line method , determine the amount of depreciation expenses recorded during the first year ending december 31

$12,000
$3,000
$7,000
$6,000

Answer 1

@mathmate

Answer 2

if they buy it for 84000 and sell at the end for 12000
how much has it cost them IN TOTAL?

Answer 3

@rissyroo118
Please tell me if you are going to answer - I will go elsewhere if not....

Answer 4

@rissyroo118
@MrNood is you best bet for this one!

Answer 5

You will get more help if you show some inclination to help yourself.

Please do not expect full answer given to you

Answer 6

im sorry i was busy, im at work doing these problems on here as well as working. i goot busy

Answer 7

@mrnood

Answer 8

so
if they buy it for 84000 and sell at the end for 12000
how much has it cost them IN TOTAL?

Answer 9

84,000-12,000 = 72,000?

Answer 10

yes

and that was spread over 6 years

so how much did it cost each year?

Answer 11

sorry - can't keep waiting

hint the period they ask you for is 6 months - 0.5 year

so get the cost per year then work out how much that is in 6 months

Answer 12

72,000/6= 12,000

Answer 13

@mrnood

Answer 14

so get the cost per year then work out how much that is in 6 months

Answer 15

so it would be 12,000 a year ,
6/12= 2,000 is what i get i dont know what im doing wrong

Answer 16

wait i did it wrong i think, so i did 12,000/2=6,000

@MrNood so D would be the answer

Answer 17

Yes - seems like you knew how to do it all along?

Answer 18

took some time to figure out what you wanted me to do, but then i got it and started to understand. i really appreciate your help :)