Homework Answers
Cost of Truck (a) = 55,000
Salvage value (b) = 5,000
Estimated Usage (c) = 150,000 miles
Driven in 2020 (d) = 23,000 miles
Driven in 2021 (e) = 31,000 miles
Depreciation in 2020 = (((a-b)/c)xd) = 7,666.67
Depreciation in 2021 = (((a-b)/c)xe) = 10,333.33
Expanation
The Formula for the Unit of Production Method Is
Depreciation expense for a given year is calculated by dividing the
original cost of the equipment less its salvage value, by the
expected number of units the asset should produce given its useful
life.
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and 14,300 in 2021.
Compute depreciation expense for 2020 and 2021 using (1) the
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double-declining-balance method. (Round depreciation
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and 14,300 in 2021.
'Calculate depreciation expense per mile under units-of-activity
method. (Round answer to 2 decimal places, e.g.
0.50.)
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$
per mile
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