In recent years, Pina Transportation purchased three used buses. Because of frequent turnover in the accounting...
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In recent years, Pina Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized below. Bus 1 2 3 Acquired 1/1/18 1/1/18 1/1/19 Cost £ 99,400 118,000 91,600 Residual Value £8,000 12,000 9,000 Useful Life in Years 5 5 4 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 118,000. Actual miles of use in the first 3 years were: 2019, 27,000; 2020, 35,500; and 2021, 31,000. If Bus no. 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in 2018 and 2019? (Round answers to 0 decimal places, e.g. 2,125.) Depreciation expense £ 2018 £ 2019 In recent years, Pina Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized below. Bus 1 2 3 Acquired 1/1/18 1/1/18 1/1/19 Cost £ 99,400 118,000 91,600 Residual Value £8,000 12,000 9,000 Useful Life in Years 5 5 4 Depreciation Method Straight-line Declining-balance Units-of-activity For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 118,000. Actual miles of use in the first 3 years were: 2019, 27,000; 2020, 35,500; and 2021, 31,000. If Bus no. 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in 2018 and 2019? (Round answers to 0 decimal places, e.g. 2,125.) Depreciation expense £ 2018 £ 2019
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Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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