How do you calculate retained earning using net income and straight-line depreciation, double-declining-balance depreciation, company C uses units-of-production depreciation for multiple years?
Three different companies each purchased trucks on January 1, 2018, for $56,000. Each truck was expected to last four years or 250,000 miles. Salvage value was estimated to be $4,000. All three trucks were driven 77,000 miles in 2018, 66,000 miles in 2019, 43,000 miles in 2020, and 72,000 miles in 2021. Each of the three companies earned $45,000 of cash revenue during each of the four years.
How do you calculate retained earning using net income and straight-line depreciation, double-declining-balance depreciation, company C uses units-of-production depreciation for multiple years?Three different companies each purchased trucks on January 1, 2018, for $56,000. Each truck was e...
