1a)
Cost | - | Residual value | / | Useful life | = | Straight-line depreciation |
$ 58,000,000.00 | - | 4,000,000 | / | 8 | = | $ 6,750,000.00 |
1b)
Cost | - | Residual value | / | Useful life in units | = | Depreciation per unit |
$ 58,000,000.00 | - | 4,000,000 | / | 6,000,000.00 | = | $ 9.00 |
Depreciation per unit | x | Current year usage | = | Units-of-production depreciation |
$ 9.00 | x | 1,100,000.00 | = | $ 9,900,000.00 |
On January 1, 2018, Questor Airline purchased a used airplane at a cost of $58,000,000. Questor...
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nJanuay 1, 2018, Alaska Freght Are pre ased a used a plane at a o st of$52,500,000 Alaska Fre e An eo pects the pla etormar used fo eight years (4,000,000 mles)and ๒ have a laska Freight Alrine expects the plane to be fown 1,500,000 miles the irst year and 1,000,000 miles the second year Read the requirements idual value of $4,500,000. Requirement 1a. Compute second year (2019) depreciation expense on the plane using the straight-line method Begin by selectingthe...
S9-4 Computing second-year depreciation and accumulated depreciation On January 1, 2018, Advanced Airline purchased a used airplane at a cost of $60,500,000. Advanced Airline expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $5,500,000. Advanced Airline expects the plane to be flown 1,100,000 miles the first year and 1,200,000 miles the second year. Plant Assets, Na Requirements 1. Compute second-year (2019) depreciation expense on the plane using the following methods: a....
At the beginning of the year, Advanced Airlines purchased a used airplane for $42,000,000. Advanced Airlines expects the plane to remain useful for four years (5,000,000 miles) and to have a residual value of $7,000,000. The company expects the plane to be flown 1,600,000 miles the first year. Read the requirements Requirement 1a. Compute Advanced Airlines's first-year depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation expense on the...