Homework Answers
| Depreciation expense | ||
| 2020 | 2021 | |
| (1) Straight-line method | 2550 | 2550 |
| (2) Units-of-activity method | 3200 | 3575 |
| (3) Declining-balance method | 5400 | 4320 |
| Workings: | ||
| 1 | ||
| Straight-line method | ||
| Depreciation Expense: | ||
| 2020 | 2550 | =(27000-1500)/10 |
| 2021 | 2550 | =(27000-1500)/10 |
| 2 | ||
| Units-of-activity method: | ||
| Per mile depreciation | 0.25 | =(27000-1500)/102000 |
| Depreciation Expense: | ||
| 2020 | 3200 | =12800*0.25 |
| 2021 | 3575 | =14300*0.25 |
| 3 | ||
| Declining-balance method: | ||
| Depreciation rate | 20% | =1/10*2 |
| Depreciation Expense: | ||
| 2020 | 5400 | =27000*20% |
| 2021 | 4320 | =(27000-5400)*20% |
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sing this question Assistance, you will learn while you earn points based on the Point Potential...
By accessing this Question Assistance, you will learn while you earn points based on the Point...
By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your i Part on on) (b1) Assume that Bridgeport uses the straight-line method. Prepare the journal entry to record 2020 depredation. (Credit accous entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for ta 2,125.) tudy Account Titles and Explanation Debit Credit By accessing this Question Assistance, you will...
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Compute deprediation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the do depreciation c0st per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15 %. Round fina Depreciation Expense 2021 2020 2550 2550 (1) Straight-line method 3200 3575 (2) Units-of-activity method 4320 5400 (3) Decining-balance method SHOW ANSWER SHOW SOLUTION SHOW LIST OF ACCOUNTS LINK TO TEEXT By accessing this Question Assistance, you will learn...
Whispering Winds Company purchased a delivery truck for $25,000 on January 1, 2020. The truck has an expected salvage value of $3,160, and is expected to be driven 104,000 miles over its estimated useful life of 10 years. Actual miles driven were 12,000 in 2020 and 11,500 in 2021 (a1) Your answer is correct. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense0.21 per mile Attempts: 1 of 15 used *(a2)...
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Question 19 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 Media...
Flint Company purchased a delivery truck for $29,000 on January
1, 2020. The truck has an expected salvage value of $2,740, and is
expected to be driven 101,000 miles over its estimated useful life
of 10 years. Actual miles driven were 16,600 in 2020 and 13,100 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
Compute depreciation expense for 2020 and 2021 using (1) the
straight-line...
Concord Corporation purchased a delivery truck for $36,800 on January 1, 2020. The truck has an expected salvage value of $1,800, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 13,500 in 2020 and 13,000 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 e Textbook and Media List of Accounts Compute depreciation expense for...
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