Bravo Company purchased a truck on October 1, 2016

Bravo Company purchased a truck on October 1, 2016. Bravo paid $10,000 for the truck in addition to $500 registration & sales taxes. The truck is expected to have a $2,000 residual value and a 5-year life. Bravo has a December 31 fiscal year end. Using the double-declining balance method, how much is: (Enter only whole dollar values.)

the 2018 depreciation expense
the accumulate depreciation after the fiscal year 2018 adjusting entry
the book value of the truck after the fiscal year 2018 adjusting entry

Here’s the SOLUTION

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