Question

Tundra Tours runs tundra buggy expeditions in northern Manitoba for tourists to catch a glimpse of the abundant caribou, polar bears, and other wildlife. Tundra purchased a tundra buggy on October 19, 2014, for cash of $145,000. Its estimated useful life is five years or 100,000 kilometers with a residual value estimated at $25,000. Tundra Tours’ year-end is December 31.

Required
Calculate depreciation expense for each fiscal year of the asset’s useful life by completing a schedule with the following headings (round calculations to the nearest whole dollar):


1 Depreciation is calculated to the nearest month.
2 Assume actual kilometers of use were: 2014, 5,800; 2015, 19,400; 2016, 22,850; 2017, 25,700; 2018, 19,980; 2019,14,600.


$1.99
Sales1
Views76
Comments0
  • CreatedJanuary 08, 2015
  • Files Included
Post your question
5000