Homework Answers
Annual depreciation expense=(Cost-Salvage value)/Useful Life
=(62500-2500)/200,000=$0.3/mile
| Depreciation expense for 2020(0.3*28750) | $8625 |
| Depreciation expense for 2021(0.3*38750) | $11625 |
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Novak Corporation purchased a truck at the beginning of 2020 for $62,500. The truck is estimated to have a salvage valu...
explanation very appreciated Windsor Corporation purchased a truck at the beginning of 2020 for $54,000. The...
explanation very appreciated
Windsor Corporation purchased a truck at the beginning of 2020 for $54,000. The truck is estimated to have a salvage value of $2,160 and a useful life of 172,800 miles. It was driven 24,840 miles in 2020 and 33,480 miles in 2021. Compute depreciation expense using the units-of-production method for 2020 and 2021. Depreciation expense for 2020 s Depreciation expense for 2021
Fairuz Corporation purchased a truck on January 1, 2020 for $55,000. The truck is estimated to...
Fairuz Corporation purchased a truck on January 1, 2020 for $55,000. The truck is estimated to have a salvage value of $5,000 and a useful life of 150,000 miles. It was driven 23,000 miles in 2020 and 31,000 miles in 2021. Instructions: Compute depreciation expense using the units-of-production method for 2020 and 2021.
Teal Corporation purchased a truck at the beginning of 2017 for $54,500. The truck is estimated...
Teal Corporation purchased a truck at the beginning of 2017 for $54,500. The truck is estimated to have a salvage value of $2,180 and a useful life of 174,400 miles. It was driven 25,070 miles in 2017 and 33,790 miles in 2018. Compute depreciation expense for 2017 and 2018. eful Depreciation expense for 2017 Depreciation expense for 2018 Culver Company purchased machinery on January 1, 2017, for $87,200. The machinery is estimated to have a salvage value of $8,720 after...
Marigold Corp. purchased a truck at the beginning of 2020 for $10B400. The truck is estimated...
Marigold Corp. purchased a truck at the beginning of 2020 for $10B400. The truck is estimated to have a salvage value of $3500 and a useful life of 124000 miles. It was driven 21000 miles in 2020 and 29000 miles in 2021. What is the depreciation expense for 2020? O $24534 O $17766 $18951 $42300
Bridgeport Company purchased a delivery truck for $27,000 on January 1, 2020. The truck has an...
Bridgeport Company purchased a delivery truck for $27,000 on
January 1, 2020. The truck has an expected salvage value of $1,500,
and is expected to be driven 102,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,800 in 2020
and 14,300 in 2021.
Compute depreciation expense for 2020 and 2021 using (1) the
straight-line method, (2) the units-of-activity method, and (3) the
double-declining-balance method. (Round depreciation
cost per unit to 2 decimal places, e.g. 0.50...
Current Attempt in Progress Concord Corporation purchased a truck at the beginning of 2020 for $109800....
Current Attempt in Progress Concord Corporation purchased a truck at the beginning of 2020 for $109800. The truck is estimated to have a salvage value of $3200 and auveure of 116000 miles. It was driven 24000 miles in 2020 and 32000 miles in 2021. What is the depreciation expense for 2020? $23379 $51464 $22056 $29408
Please explain how to do units of activity method and declining balance. Novak Corp. purchased a...
Please explain how to do units of activity method and declining balance. Novak Corp. purchased a delivery truck for $35,600 on January 1, 2020. The truck has an expected salvage value of $1,600, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2020 and 11,700 in 2021. Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining-balance...
Novak Company purchased equipment for $230,000 on October 1, 2020. It is estimated that the equipment...
Novak Company purchased equipment for $230,000 on October 1, 2020. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $14,000. Estimated production is 36,000 units and estimated working hours are 20,000. During 2020, Novak uses the equipment for 520 hours and the equipment produces 1,000 units. Compute depreciation expense under each of the following methods. (Novak is on a calendar-year basis ending December 31.) a. Straight line method for 2020...
Bridgeport Company purchased a delivery truck for $27,000 on January 1, 2020. The truck has an...
Bridgeport Company purchased a delivery truck for $27,000 on
January 1, 2020. The truck has an expected salvage value of $1,500,
and is expected to be driven 102,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,800 in 2020
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.)
Depreciation expense
$
per mile
E9.7 (LO 2) Linton Company purchased a delivery truck for $34,000 on January 1, 2020. The...
E9.7 (LO 2) Linton Company purchased a delivery truck for $34,000 on January 1, 2020. 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 15,000 in 2020 and 12,000 in 2021. Compute depreciation using different methods. Instructions . Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units- of-activity method, and (3) the double-declining-balance method....
explanation very appreciated
Windsor Corporation purchased a truck at the beginning of 2020 for $54,000. The truck is estimated to have a salvage value of $2,160 and a useful life of 172,800 miles. It was driven 24,840 miles in 2020 and 33,480 miles in 2021. Compute depreciation expense using the units-of-production method for 2020 and 2021. Depreciation expense for 2020 s Depreciation expense for 2021
Fairuz Corporation purchased a truck on January 1, 2020 for $55,000. The truck is estimated to have a salvage value of $5,000 and a useful life of 150,000 miles. It was driven 23,000 miles in 2020 and 31,000 miles in 2021. Instructions: Compute depreciation expense using the units-of-production method for 2020 and 2021.
Teal Corporation purchased a truck at the beginning of 2017 for $54,500. The truck is estimated to have a salvage value of $2,180 and a useful life of 174,400 miles. It was driven 25,070 miles in 2017 and 33,790 miles in 2018. Compute depreciation expense for 2017 and 2018. eful Depreciation expense for 2017 Depreciation expense for 2018 Culver Company purchased machinery on January 1, 2017, for $87,200. The machinery is estimated to have a salvage value of $8,720 after...
Marigold Corp. purchased a truck at the beginning of 2020 for $10B400. The truck is estimated to have a salvage value of $3500 and a useful life of 124000 miles. It was driven 21000 miles in 2020 and 29000 miles in 2021. What is the depreciation expense for 2020? O $24534 O $17766 $18951 $42300
Bridgeport Company purchased a delivery truck for $27,000 on
January 1, 2020. The truck has an expected salvage value of $1,500,
and is expected to be driven 102,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,800 in 2020
and 14,300 in 2021.
Compute depreciation expense for 2020 and 2021 using (1) the
straight-line method, (2) the units-of-activity method, and (3) the
double-declining-balance method. (Round depreciation
cost per unit to 2 decimal places, e.g. 0.50...
Current Attempt in Progress Concord Corporation purchased a truck at the beginning of 2020 for $109800. The truck is estimated to have a salvage value of $3200 and auveure of 116000 miles. It was driven 24000 miles in 2020 and 32000 miles in 2021. What is the depreciation expense for 2020? $23379 $51464 $22056 $29408
Bridgeport Company purchased a delivery truck for $27,000 on
January 1, 2020. The truck has an expected salvage value of $1,500,
and is expected to be driven 102,000 miles over its estimated
useful life of 10 years. Actual miles driven were 12,800 in 2020
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.)
Depreciation expense
$
per mile
E9.7 (LO 2) Linton Company purchased a delivery truck for $34,000 on January 1, 2020. 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 15,000 in 2020 and 12,000 in 2021. Compute depreciation using different methods. Instructions . Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units- of-activity method, and (3) the double-declining-balance method....
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