Homework Answers
a) calculate Dep
| 2017 | 2018 | |
| Straight line Dep | (63100000-5100000/5) = 11600000 | 11600000 |
| Unit of production | 8.29*800000 = 6632000 | 11191500 |
| Double decline | 63100000*40% = 25240000 | 15144000 |
b) Book value
| Straight line | Unit of production | Double decline | |
| Cost | 63100000 | 63100000 | 63100000 |
| Less: Accumulated depreciation | -23200000 | 17823500 | 40384000 |
| Book value | 39900000 | 45276500 | 22716000 |
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On January 1, 2017, AmerEx Transportation Company purchased a used aircraft at a cost of $64,400,000. AmerEx expects the plane to remain useful for five years (7,000,000 miles) and to have a residual value of $6,400,000. AmerEx expects to fly the plane 775,000 miles the first year, 1,200,000 miles each year during the second, third, and fourth years, and 2,625,000 miles the last year. (Click the icon to view the first year depreciation amounts under each method.) Read the requirements....
On January 1, 2017, Northeast USA Transportation Company purchased a used aircraft at a cost of $55,000,000. Northeast USA expects the plane to remain useful for five years (6,500,000 miles) and to have a residual value of $5,000,000. Northeast USA expects to fly the plane 850,000 miles the first year, 1,300,000 miles each year during the second third, and fourth years, and 1,750,000 miles the last year. (Click the icon to view the first year depreciation amounts under each method.)...
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Please use same format in
response.
On January 1, 2018, Air Asias purchased a used airplane for $54,000,000. Air Asias expects the plane to remain useful for five years (5,000,000 miles) and to have a residual value of $4,000,000. The company expects the plane to be flown 1,100,000 miles the first year. Read the requirements Requirement 1a. Compute Air Aslas'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...
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