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9. $ Year 2 depreciation expense 10. $ Accumulated depreciation for year 2 II. S Book value at the end of year 2 12. $ Year 3 depreciation expense 13. $ Year 4 depreciation expense Answer 14 and 15 based on Activity based For the past three years the company used the truck as follows: 14. Under activity based depreciation; what is the amount of depreciation expense they would have recorded for year 3 ? 15. Under activity based depreciation; what is the book value at the end of year 3 ? \$ 16. 5 During the first two years, the company drove the truck 103,000 in year I and 101,000 miles in year 2 , to deliver merchandise to its customers. The company originally purchased the truck for $175,000. If the truck has an estimated life of 5 years or 500,000 miles, with an estimated residual value of $40,000, what amount of depreciation expense should the company record in the second year using the activity-based method? 17. : The company purchased equipment at the beginning of Year 1 for $400,000. In Years 14, the company depreciated the asset on a straight-line basis with an estimated useful life of 10 years and a $$30,000 residual value. What is the BOOK VALUE of the equipment at the end of year 4 ? Use the following to answer questions 14 The company purchased land as a factory site. An old building on the property was demolished, and construction began on a new building. Costs incurred during the first year are listed below: 1. S How much of the "property taxes on the land for the next year" should be capitalized to the Land account? 2. How should the "sale of salvaged materials" be recorded? A. As an added cost of the land B. As a reduction of the cost of the land C. As an added cost to the building D. As a reduction of the cost of the building 3. What amount should be recorded to the Land account? 4. : What amount should be recorded to the Building account? Use the following to answer questions 5 - 15 (Straight Line, Double declining balance and Activity Based) The company purchased a new semi-trailer truck for an acquisition cost of $250,000. The company estimates the truck will have a residual value of 550,000 when they are done using it at the end of 5 years or about 400,000 miles. Answer 58 based on Straight line depreciation 5. S Year 2 depreciation expense 6. 5 Book value at the end of year 2 7.5 Accumulated depreciation for year 3 8.: Book value at the end of year 3 Answer 913 based on Double Declining Balance