Homework Answers
Answer:
a.Straightline Depreciation = (Cost - Salvage value ) / Life of asset
(63400000 - 5400000 ) / 5 Years = 11600000
Depreciation equal for 5 years 2017 = $11600000 ; 2018 = $11600000
b.Units of production Method = (Cost - Salvage value ) / Total Miles
(63400000 - 5400000 ) / 6800000 Miles = $8.53 per mile
2017 Depreciation = $8.53 mile x 700000 miles = $5971000
2018 Depreciation = $8.53 x 1300000 miles = $11089000
c.Double Declining Method = 2 x straightline depreciation rate x Book value at the beginning of the Year
2017 Depreciation = 2 x 1/5 x 63400000 = 25360000
2018 Depreciation = 2 x 1/5 x ( 63400000 - 25360000 ) = 15216000
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