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.
Bus | Acquired | Cost | Salvage | Useful Life | Depreciation | |||||
1 | 1/1/17 | $ 95,500 | $ 5,000 | 5 | Straight-line | |||||
2 | 1/1/17 | 126,000 | 10,500 | 5 | Declining-balance | |||||
3 | 1/1/18 | 87,860 | 8,500 | 4 | 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 128,000. Actual miles of use in the first 3 years were 2018, 23,500; 2019, 33,500; and 2020, 30,000.
Correct answer iconYour answer is correct. For Bus #3, calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Attempts: 1 of 5 used Correct answer iconYour answer is correct. Compute the amount of accumulated depreciation on each bus at December 31, 2019. (Round
depreciable cost per unit to 2 decimal places, e.g. 0.50 and
depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0
decimal places, e.g. 2,125.) Accumulated depreciation BUS 1 BUS 2 BUS 3 Attempts: 4 of 5 used
(a1)
Depreciable cost $
per mile eTextbook and Media
(a2)
$
$
$
eTextbook and Media
Incorrect answer iconYour answer is incorrect.
If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1) 2017 and (2) 2018? (Round answers to 0 decimal places, e.g. 2,125.)
(1) | (2) | |||
Depreciation expense | $ | $ |
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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, 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...
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...
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....
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, 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...
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...
Swifty Bus Lines uses the units-of-activity method in
depreciating its buses. One bus was purchased on January 1, 2020,
at a cost of $263,321. Over its 6-year useful life, the bus is
expected to be driven 174,300 miles. Salvage value is expected to
be $7,100.
Compute the depreciable cost per unit. (Round answer
to 2 decimal places, e.g. 0.50.)
Depreciation cost per unit
$
per mile
please answer the question below, thanks!
CALCULATOR PRINTER VERSION BACK NEXT Exercise 9-7 (Part Level Submission) Wildhorse Co. purchased a delivery truck for $38,000 on January 1, 2019. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 14,400 in 2019 and 12,700 in 2020. (al) Your answer is correct. Calculate depreciable cost per mile under units-of-activity method. (Round answer to...
Question 19 --/1 View Policies Current Attempt in Progress Novak Company purchased a delivery truck for $27,000 on January 1, 2020. The truck has an expected salvage value of $1,000, and is expected to be driven 100,000 miles over its estimated useful life of 10 years. Actual miles driven were 13,400 in 2020 and 13,900 in 2021. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense $ per mile eTextbook and...