Homework Answers
Req. 4 :
The estimated residual value is $ 40,000.
Req. 5A :
Reported book value at the end of Year 2 using Method 1 = Cost - Accumulated Depreciation = $ 240,000 - $ 80,000 = $ 160,000.
Req. 5B :
Reported book value at the end of Year 2 using Method 3 = Cost - Accumulated Depreciation = $ 240,000 - $ 153,600 = $ 86,400.
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Delivery Service Express (DSE) has a fleet of trucks and specializes in the delivery of refrigerated...
Delivery Service Express (DSE) has a fleet of trucks and specializes in the delivery of refrigerated...
Delivery Service Express (DSE) has a fleet of trucks and specializes in the delivery of refrigerated foods. The warehouse manager a delivery truck for $240,000. Part of the job of the Chief Financial Office estimated useful life. The CFO is considering three depreciation methods: activity-based, straight-line, and double-declining-balance. The CFO has plotted depreciation each year (left graph) using an estimated five-year useful life. The right graph shows the accumulation of depreciation each year for each method. Depreciation Each Year by...
Which depreciation method results in the most depreciation in the first year of the truck’s five-year...
Which depreciation method results in the most depreciation in
the first year of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the same amount of
depreciation each year?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the most accumulated
depreciation by the end of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
What is the truck’s estimated residual value (Hint: Recall the
purchase...
A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of...
A fleet of refrigerated delivery trucks is acquired on January
5, 2017, at a cost of $870,000 with an estimated useful life of 8
years and an estimated salvage value of $78,300.
Compute the depreciation expense for the first three years using
the double-declining-balance method. (Round your answers to
the nearest dollar.)
End of Period Depreciation for the Period Beginning of Depreciation Period Book Depreciation Value Rate(%) Expense Annual Period Accumulated Depreciation Book Value First Year Second Year Third...
A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of...
A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $830,000 with an estimated useful life of eight years and an estimated salvage value of $75,000. Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) End of Period Depreciation for the Period Beginning of Period Book Depreciation Depreciation Expense Rate (%) Value Annual Period Accumulated Depreciation Book Value First Year Second Year Third...
A fleet of refrigerated delivery trucks is acquired on January 5, 2 and an estimated salvage...
A fleet of refrigerated delivery trucks is acquired on January 5, 2 and an estimated salvage value of $78,300 017,at a cost of $870.000 with an estimated usefu Ife of B years Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) on for the Period End of Period Beginning of Depreciation Period Period Book Depreciation Depreciation Accumulated Expense Book Value Rate (%) First Year Second Year Third Year <...
Yoshi Company completed the following transactions and events involving its delivery trucks. 2017 Jan. 1 Paid...
Yoshi Company completed the following transactions and events involving its delivery trucks. 2017 Jan. 1 Paid $23,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five-year life and a $2,300 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. 2018 Dec. 31 Due to new information obtained earlier in the year, the truck's estimated useful life was changed from five to four...
QS 10-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January...
QS 10-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $830,000 with an estimated useful life of eight years and an estimated salvage value of $75,000. Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period End of Period Beginning of Period Book Value Depreciation Rate (%) Annual Period Depreciation Expense Accumulated Book Value...
QS 8-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2015, at...
QS 8-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2015, at a cost of $930,000 with an estimated useful life of 8 years and an estimated salvage value of $83,700. Compute the depreciation expense for the first 3 years using the double-declining-balance method. (Round your answers to the nearest dollar.) End of Period Depreciation for the Period Beginning of Depreciation Depreciation Period Book Value Rate (%) Expense Annual Period Accumulated Depreciation Book...
Yoshi Company completed the following transactions and events involving its delivery trucks. 2017 Jan. 1 Paid...
Yoshi Company completed the following transactions and events involving its delivery trucks. 2017 Jan. 1 Paid $23,515 cash plus $1,635 in sales tax for a new delivery truck estimated to have a five-year life and a $2,150 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. 2018 Dec. 31 Due to new information obtained earlier in the year, the truck's estimated useful life was changed from five to four...
Double-Dedining-Balance Deprediation A small delivery truck was purchased on January 1 at a cost of $25,300....
Double-Dedining-Balance Deprediation A small delivery truck was purchased on January 1 at a cost of $25,300. It has an estimated useful Iife of four years and an estimated salvage value of $5,050 prepare a depreciation schedule showing the depreclation expense, accumulated deprediatien, and book value for each year under the double-dedining-balance method. If an amount box does nst require an entry, leave it blank. Small Delivery Truck Depreciation Schedule On January Book Valkue Accumulated Depreciation End of Yea, Book Value...
Delivery Service Express (DSE) has a fleet of trucks and specializes in the delivery of refrigerated foods. The warehouse manager a delivery truck for $240,000. Part of the job of the Chief Financial Office estimated useful life. The CFO is considering three depreciation methods: activity-based, straight-line, and double-declining-balance. The CFO has plotted depreciation each year (left graph) using an estimated five-year useful life. The right graph shows the accumulation of depreciation each year for each method. Depreciation Each Year by...
Which depreciation method results in the most depreciation in
the first year of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the same amount of
depreciation each year?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the most accumulated
depreciation by the end of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
What is the truck’s estimated residual value (Hint: Recall the
purchase...
A fleet of refrigerated delivery trucks is acquired on January
5, 2017, at a cost of $870,000 with an estimated useful life of 8
years and an estimated salvage value of $78,300.
Compute the depreciation expense for the first three years using
the double-declining-balance method. (Round your answers to
the nearest dollar.)
End of Period Depreciation for the Period Beginning of Depreciation Period Book Depreciation Value Rate(%) Expense Annual Period Accumulated Depreciation Book Value First Year Second Year Third...
A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $830,000 with an estimated useful life of eight years and an estimated salvage value of $75,000. Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) End of Period Depreciation for the Period Beginning of Period Book Depreciation Depreciation Expense Rate (%) Value Annual Period Accumulated Depreciation Book Value First Year Second Year Third...
A fleet of refrigerated delivery trucks is acquired on January 5, 2 and an estimated salvage value of $78,300 017,at a cost of $870.000 with an estimated usefu Ife of B years Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) on for the Period End of Period Beginning of Depreciation Period Period Book Depreciation Depreciation Accumulated Expense Book Value Rate (%) First Year Second Year Third Year <...
Yoshi Company completed the following transactions and events involving its delivery trucks. 2017 Jan. 1 Paid $23,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five-year life and a $2,300 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. 2018 Dec. 31 Due to new information obtained earlier in the year, the truck's estimated useful life was changed from five to four...
QS 10-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2017, at a cost of $830,000 with an estimated useful life of eight years and an estimated salvage value of $75,000. Compute the depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period End of Period Beginning of Period Book Value Depreciation Rate (%) Annual Period Depreciation Expense Accumulated Book Value...
QS 8-6 Double-declining-balance method LO P1 A fleet of refrigerated delivery trucks is acquired on January 5, 2015, at a cost of $930,000 with an estimated useful life of 8 years and an estimated salvage value of $83,700. Compute the depreciation expense for the first 3 years using the double-declining-balance method. (Round your answers to the nearest dollar.) End of Period Depreciation for the Period Beginning of Depreciation Depreciation Period Book Value Rate (%) Expense Annual Period Accumulated Depreciation Book...
Yoshi Company completed the following transactions and events involving its delivery trucks. 2017 Jan. 1 Paid $23,515 cash plus $1,635 in sales tax for a new delivery truck estimated to have a five-year life and a $2,150 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. 2018 Dec. 31 Due to new information obtained earlier in the year, the truck's estimated useful life was changed from five to four...
Double-Dedining-Balance Deprediation A small delivery truck was purchased on January 1 at a cost of $25,300. It has an estimated useful Iife of four years and an estimated salvage value of $5,050 prepare a depreciation schedule showing the depreclation expense, accumulated deprediatien, and book value for each year under the double-dedining-balance method. If an amount box does nst require an entry, leave it blank. Small Delivery Truck Depreciation Schedule On January Book Valkue Accumulated Depreciation End of Yea, Book Value...
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