Fixed Assets and Depreciation In recent years, Kevin Transportation purchased three used buses. Because of frequent...
Fixed Assets and Depreciation
In recent years, Kevin 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 | $96,000 | 96,000 | 5 | straight line |
| 2 | 1/1/18 | $110,000 | 10,000 | 4 |
declining |
| 3 | 1/1/19 | $92,000 | 8,000 | 5 | units of activity |
For the declining-balance method, the company uses the
double-declining rate. For the
units-of-activity method, total miles are expected to be 120,000.
Actual miles of use in the first 3
years were 2019, 24,000; 2020, 34,000; and 2021, 30,000.
Instructions (a) Compute the amount
of accumulated depreciation on each bus at December 31, 2020.
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Fixed Assets and Depreciation
In recent years, Kevin Transportation purchased three used
buses. Because of frequent...
Fixed Assets and Depreciation In recent years, Kevin Transportation purchased three used buses. Because of frequent...
Fixed Assets and Depreciation In recent years, Kevin 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 Iife in Years Depreciation Method 1 1/1/18 $96,000 6000 5 straight line 2 1/1/18 $110,000 10000 4 declining 3 1/1/19 $92,000 8000 5 units of activity For the declining-balance method,...
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...
Compute depreciation under different methods. (LO2) P10-2A In recent years, Avery Transportation purchased three used buses....
Compute depreciation under different methods. (LO2) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1/1/15 2 1/1/15 1/1/16 Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 10,000 4 8,000 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining balance method,...
In recent years, Concord Transportation purchased three used buses. Because of frequent turnover in the accounting...
In recent years, Concord 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 1/1/18 $ 96,600 $ 7,000 4 Straight-line 2 1/1/18 123,000 12,000 5 Declining-balance 3 1/1/19 78,100 8,500 5 Units-of-activity For the declining-balance method, the company uses the double-declining...
Compule depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used...
Compule depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1 1/1/15 1/1/15 1/1/16 Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 10,000 8,000 5 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method,...
Compute depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used...
Compute depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1 1/1/15 1/1/15 1/1/16 TOTE Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 5 10,000 8,000 5 Depreciation Method Straight-line Declining balance Units-of-activity For...
Compule depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used...
Compule depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1 1/1/15 1/1/15 1/1/16 Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 10,000 8,000 5 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method,...
In recent years, Bramble Transportstion purchased three used buses. Because of frequent turnover in the accounting depar...
In
recent years, Bramble Transportstion 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 [refer to photo attached].
For the declining-balance method, the company uses the
double-declining rate. For the units-of-activity method, total
miles are expected to be 112,000. Actual miles of use in the first
3 years were 2019, 27,500; 2020, 33,000; and...
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....
In recent years, Novak Transportation purchased three used b e cause of frequent turnover in the...
In recent years, Novak Transportation purchased three used b e cause 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 Cost Useful Life in Years Depreciation Method Acquired 1/1/18 1/1/18 1/1/19 $99,000 110,000 89,000 Salvage Value $5,500 10,500 8,500 Straight-line Declining balance Units of activity 4 For the declining balance method, the company uses the double declining rate...
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...
Compute depreciation under different methods. (LO2) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1/1/15 2 1/1/15 1/1/16 Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 10,000 4 8,000 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining balance method,...
Compule depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1 1/1/15 1/1/15 1/1/16 Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 10,000 8,000 5 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method,...
Compute depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1 1/1/15 1/1/15 1/1/16 TOTE Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 5 10,000 8,000 5 Depreciation Method Straight-line Declining balance Units-of-activity For...
Compule depreciation under different methods. (LO ) P10-2A In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depre- ciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows. Bus Acquired 1 1/1/15 1/1/15 1/1/16 Cost $ 96,000 110,000 92,000 Salvage Useful Life Value in Years $ 6,000 10,000 8,000 5 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method,...
In
recent years, Bramble Transportstion 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 [refer to photo attached].
For the declining-balance method, the company uses the
double-declining rate. For the units-of-activity method, total
miles are expected to be 112,000. Actual miles of use in the first
3 years were 2019, 27,500; 2020, 33,000; and...
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....
In recent years, Novak Transportation purchased three used b e cause 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 Cost Useful Life in Years Depreciation Method Acquired 1/1/18 1/1/18 1/1/19 $99,000 110,000 89,000 Salvage Value $5,500 10,500 8,500 Straight-line Declining balance Units of activity 4 For the declining balance method, the company uses the double declining rate...
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