Homework Answers
Answer:
Working:
Bus 2 Cost = $112,000 and useful life = 5 years
Double declining depreciation % = 2 / Useful life * 100% = 2/ 5 * 100% = 40%
Year 1 Annual depreciation = Cost * 40% = 112000 * 40% = $44,800
If bus 2 was purchased on April 1:
then depreciation expense in Year 1 will be for 9 months = 44800 * 9/12 = $33,600
Book value at the end of Year 1 = 112000 - 33600 = $78,400
Year 2 depreciation = 78400 * 40% = $31,360
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Grades AC10 Account Wiley PLUS X Facebook X ndugen.wileyplus.com/edugen/lt/main.uni a [email protected] X + II LU Weygandt,...
In recent years, Pina Colada Transportation purchased three used buses. Because of frequent turnover in the...
In recent years, Pina Colada Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows Salvage Value Useful Life in Years Depreciation Method Acquired Bus Cost 1/1/18 $97,000 8,000 Straight-line 1 5 Declining-balance 1/1/18 2 127,000 11,500 5 94,100 Units-of-activity 3 1/1/19 8,000 4 For the declining-balance method, the company uses the double-declining rate....
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In recent years, Novak Transportation purchased three used buses. Because of frequent turnover in the accounting...
In recent years, Novak Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is summarized as follows.
Bus
Acquired
Cost
Salvage
Value
Useful Life
in Years
Depreciation
Method
1
1/1/18
$ 99,000
$ 5,500
5
Straight-line
2
1/1/18
110,000
10,500
4
Declining-balance
3
1/1/19
89,000
8,500
4
Units-of-activity
For the declining-balance method, the company uses the
double-declining...
Problem 9-2A (Part Level Submission) In recent years, Novak Transportation purchased three used buses. Because of...
Problem 9-2A (Part Level Submission) In recent years, Novak
Transportation purchased three used buses. Because of frequent
turnover in the accounting department, a different accountant
selected the depreciation method for each bus, and various methods
were selected. Information concerning the buses is shown as
follows. Bus Acquired Cost Salvage Value Useful Life in Years
Depreciation Method 1 1/1/17 $ 98,300 $ 7,000 5 Straight-line 2
1/1/17 118,000 10,000 4 Declining-balance 3 1/1/18 88,640 8,000 4
Units-of-activity For the declining-balance method,...
Accounting
In recent years, Pharoah Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is shown as follows.BusAcquiredCostSalvageValueUseful Lifein YearsDepreciation Method11/1/17$ 95,500$ 5,0005Straight-line21/1/17126,00010,5005Declining-balance31/1/1887,8608,5004Units-of-activityFor the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 128,000. Actual miles of use in the first 3 years were 2018, 23,500; 2019, 33,500; and 2020, 30,000. ...
Problem 9-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in...
Problem 9-2A
In recent years, Avery Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is summarized as follows.
Bus
Acquired
Cost
Salvage
Value
Useful Life
in Years
Depreciation
Method
1
1/1/13
$97,900
$6,800
4
Straight-line
2
1/1/13
112,000
11,100
5
Declining-balance
3
1/1/14
83,360
8,900
4
Units-of-activity
For the declining-balance method, the company uses the
double-declining...
Problem 10-02A al-b In recent years, Sheffield Transportation purchased three used buses. Because of frequent turnover...
Problem 10-02A al-b In recent years, Sheffield Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each us, and various methods were selected. Information concerning the buses issummarized as follows Depreciation Hus Useful Life in Years Aquired 1/1/18 1/1/13 1/1/19 Cost 9 0,000 121,000 95,000 Salvage Valu $7,500 12.000 7.500 Straight line Declining balance Units of activity For the declining balance method, the company uses the double-declining rate....
In recent years, Swifty Transportation purchased three used buses. Because of frequent turnover in the accoun...
In recent years, Swifty Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is shown as follows.
Bus
Acquired
Cost
Salvage
Value
Useful Life
in Years
Depreciation
Method
1
1/1/17
$ 99,400
$ 7,500
4
Straight-line
2
1/1/17
118,000
10,000
4
Declining-balance
3
1/1/18
82,400
8,000
4
Units-of-activity
For the declining-balance method, the company uses the
double-declining...
DIG Weygandt, Accounting Principles, 13e Hel System Announcements Exercise 10-07 a1-b2 Pronghorn Company purchased a delivery...
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Accounting
In recent years, Pharoah Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is shown as follows.BusAcquiredCostSalvageValueUseful Lifein YearsDepreciation Method11/1/17$ 95,500$ 5,0005Straight-line21/1/17126,00010,5005Declining-balance31/1/1887,8608,5004Units-of-activityFor the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 128,000. Actual miles of use in the first 3 years were 2018, 23,500; 2019, 33,500; and 2020, 30,000. ...
In recent years, Pina Colada Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows Salvage Value Useful Life in Years Depreciation Method Acquired Bus Cost 1/1/18 $97,000 8,000 Straight-line 1 5 Declining-balance 1/1/18 2 127,000 11,500 5 94,100 Units-of-activity 3 1/1/19 8,000 4 For the declining-balance method, the company uses the double-declining rate....
Return to Blackboard eyPLUS Weygandt, Accounting Principles, 13e CARCERATO PRINTER VERSION ILACK NEXT NT s line Graded nment Bus Useful Life in Years 1 Acquired 1/1/18 1/1/18 1/1/19 Cost $ 96,100 119,000 95.000 Salvage Value $7,000 11,000 7,500 Depreciation Method Straight-line Declining balance Units-of-activity 2 5 5 3 13 For the declining-balance method, the company uses the double-declining rate. For the units of activity method, total miles are expected to be 125,000 Actual miles of use in the first 3...
In recent years, Novak Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is summarized as follows.
Bus
Acquired
Cost
Salvage
Value
Useful Life
in Years
Depreciation
Method
1
1/1/18
$ 99,000
$ 5,500
5
Straight-line
2
1/1/18
110,000
10,500
4
Declining-balance
3
1/1/19
89,000
8,500
4
Units-of-activity
For the declining-balance method, the company uses the
double-declining...
Problem 9-2A (Part Level Submission) In recent years, Novak
Transportation purchased three used buses. Because of frequent
turnover in the accounting department, a different accountant
selected the depreciation method for each bus, and various methods
were selected. Information concerning the buses is shown as
follows. Bus Acquired Cost Salvage Value Useful Life in Years
Depreciation Method 1 1/1/17 $ 98,300 $ 7,000 5 Straight-line 2
1/1/17 118,000 10,000 4 Declining-balance 3 1/1/18 88,640 8,000 4
Units-of-activity For the declining-balance method,...
Problem 9-2A
In recent years, Avery Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is summarized as follows.
Bus
Acquired
Cost
Salvage
Value
Useful Life
in Years
Depreciation
Method
1
1/1/13
$97,900
$6,800
4
Straight-line
2
1/1/13
112,000
11,100
5
Declining-balance
3
1/1/14
83,360
8,900
4
Units-of-activity
For the declining-balance method, the company uses the
double-declining...
Problem 10-02A al-b In recent years, Sheffield Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each us, and various methods were selected. Information concerning the buses issummarized as follows Depreciation Hus Useful Life in Years Aquired 1/1/18 1/1/13 1/1/19 Cost 9 0,000 121,000 95,000 Salvage Valu $7,500 12.000 7.500 Straight line Declining balance Units of activity For the declining balance method, the company uses the double-declining rate....
In recent years, Swifty Transportation purchased three used
buses. Because of frequent turnover in the accounting department, a
different accountant selected the depreciation method for each bus,
and various methods were selected. Information concerning the buses
is shown as follows.
Bus
Acquired
Cost
Salvage
Value
Useful Life
in Years
Depreciation
Method
1
1/1/17
$ 99,400
$ 7,500
4
Straight-line
2
1/1/17
118,000
10,000
4
Declining-balance
3
1/1/18
82,400
8,000
4
Units-of-activity
For the declining-balance method, the company uses the
double-declining...
DIG Weygandt, Accounting Principles, 13e Hel System Announcements Exercise 10-07 a1-b2 Pronghorn Company purchased a delivery truck for $26,000 on January 1, 2020. The truck has an expected salvage value of $1,280, and is expected to be driven 103,000 miles over its estimated useful life of 10 years. Actual miles driven were 12,700 in 2020 and 10.200 in 2021. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places. e.. 0.50.) Depreciation expense S per mile...
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