Question: Exercise 9-23 (Part Level Submission) Crane Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at

Exercise 9-23 (Part Level Submission) Crane Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1,

Exercise 9-23 (Part Level Submission) Crane Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $131,000. Over its 4-year useful life, the bus is expected to be driven 240,000 miles. Salvage value is expected to be $7,400. (a) Your answer is correct. Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251) Depreciation cost per unit 0.515 (b) Prepare a depreciation schedule assuming actual mileage was: 2022, 52,400; 2023, 68,000; 2024, 53,600; and 2025, 66,000. (Round depreciation cost per unit to 3 decimal places, e.g. 0.125 and other answers to O decimal places, e.g. 125) End of Year Computation Units of Activity * Depreciation Cost/Unit = Annual Depreciation Expense Years Accumulated Depreciation Book Value 2022 52,400 0.515 $ 2023 68,000 0.515 2024 53,600 0.515 2025 66,000 0.515

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