Hunter Company purchased a light truck on January 2, 2019 for $18,000. The truck, which will be used for deliveries, has the following characteristics:
Estimated life: 5 years
Estimated residual value: $3,000
Depreciation method for financial statements: straight-line method
Depreciation for income tax purposes: MACRS (3-year life)
From 2019 through 2023, each year, Hunter had sales of $100,000, cost of goods sold of $60,000, and operating expenses (excluding depreciation) of $15,000. The truck was disposed of on December 31, 2023, for $2,000.
Required:
Accounting Information Systems
Financial And Managerial Accounting
Managerial Accounting: The Cornerstone of Business Decision-Making
Corporate Financial Accounting
Financial & Managerial Accounting
Financial Accounting
College Accounting, Chapters 1-27
MKTG 12:STUDENT ED.-TEXT
ECON: MICRO4 (New, Engaging Titles from 4LTR Press)
Brief Principles of Macroeconomics (MindTap Course List)
Foundations of Business (MindTap Course List)
Essentials of Business Communication (MindTap Course List)
Principles of Economics (MindTap Course List)
Management, Loose-Leaf Version
Accounting Information Systems
Fundamentals of Financial Management (MindTap Course List)
Contemporary Marketing
Principles of Microeconomics (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (MindTap Course List)
Principles of Macroeconomics (MindTap Course List)
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Essentials of Economics (MindTap Course List)
College Accounting (Book Only): A Career Approach
Financial Accounting
Financial & Managerial Accounting
College Accounting (Book Only): A Career Approach
Accounting (Text Only)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
Fundamentals of Financial Management (MindTap Course List)
Pkg Acc Infor Systems MS VISIO CD
Statistics for Business & Economics, Revised (MindTap Course List)
Exploring Economics
Principles of Macroeconomics (MindTap Course List)
Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)
Corporate Financial Accounting
PAYROLL ACCT.,2019 ED.(LL)-TEXT
Survey of Accounting (Accounting I)
Purchasing and Supply Chain Management
Economics (MindTap Course List)
Macroeconomics
Cornerstones of Cost Management (Cornerstones Series)
Practical Management Science
Economics For Today
Microeconomics
Managerial Accounting
Cornerstones of Financial Accounting
Macroeconomics: Private and Public Choice (MindTap Course List)
Microeconomics: Private and Public Choice (MindTap Course List)
Principles of Microeconomics
Micro Economics For Today
Understanding Management (MindTap Course List)
Economics: Private and Public Choice (MindTap Course List)