Hi Everyone,
Ive been out of university for about 8 years and I've just started a new program so I'm having trouble with depreciation. I understand the concept and how to calculate it but I can't figure out this question on my own. In my head, you can't do the calculation with the information available but hopefully someone smart then I can assist.
I am entering the value of a truck on a balance sheet. The current value of the truck is $40,592. The truck is already 2 years old. The truck has no value at the end of the 10 year useful life period. It will depreciate on a straight line amortization. I am trying to calculate the original purchase price of the truck. However I don't think that you can do it without the monthly depreciation value.
If anyone is able to assist that would be great
-Star
Ive been out of university for about 8 years and I've just started a new program so I'm having trouble with depreciation. I understand the concept and how to calculate it but I can't figure out this question on my own. In my head, you can't do the calculation with the information available but hopefully someone smart then I can assist.
I am entering the value of a truck on a balance sheet. The current value of the truck is $40,592. The truck is already 2 years old. The truck has no value at the end of the 10 year useful life period. It will depreciate on a straight line amortization. I am trying to calculate the original purchase price of the truck. However I don't think that you can do it without the monthly depreciation value.
If anyone is able to assist that would be great
-Star