Homework Answers
1. Formulaes:
Straight line depreciation =(cost-salvage value)/useful life
Units of production method=(cost-salvage value) x usage in current year/ usage over lifetime
Double-declining method=2 x rate of depreciation on straight line method
| cost | $6,30,00,000 | usage in 1st year | 11,00,000 miles | ||
| salvage value | $40,00,000 | usage in 2nd year | 15,00,000 miles | ||
| useful life(in years) | 9 | ||||
| useful life(in miles) | $60,00,000 | double decline rate | 20.80% | ||
| Depreciation | year | year | |||
| I | II | ||||
| a) | Straight line | $65,55,556 | $65,55,556 | ||
| b) | units of production | $1,08,16,667 | $14750000 | ||
| c) | double decining balance | $1,31,04,000 | $10378368 |
2.
| Accumulated depreciation | |||
| Straight line | units of production | double decining balance | |
| Depreciation- year 1 | $65,55,556 | $1,08,16,667 | $1,31,04,000 |
| Depreciation- year 2 | $65,55,556 | $1,47,50,000 | $1,03,78,368 |
| total accumulated depreciation | $1,31,11,112 | $2,55,66,667 | $2,34,82,368 |
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airplane for $53,600,000. South Bend Airlines expects the plane to
remain useful for four years (6,000,000 miles) and to have a
residual value of $5,600,000. The company expects the plane to be
flown 1,100,000 miles the first year.
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