In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in the accounting...
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In recent years, Avery 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 as follows. Salvage Value Depreciation Method Straight-line Declining-balance Units-of-activity Useful Life in Years Bus Acquired Cost 1/1/15 $ 98,500 $ 5,000 2 1/1/15 116,000 12,000 3 1/1/16 88,100 7,500 4. For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 130,000. Actual miles of use in the first 3 years were 2016, 24,500; 2017, 33,500; and 2018, 33,000. For Bus #3, calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense per mile LINK TO TEXT Compute the amount of accumulated depreciation on each bus at December 31, 2017. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Accumulated depreciation BUS 1 BUS 2 BUS 3 If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1) 2015 and (2) 2016? (Round answers to 0 decimal places, e.g. 2,125.) (1) 2015 (2) 2016 Depreciation expense s In recent years, Avery 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 as follows. Salvage Value Depreciation Method Straight-line Declining-balance Units-of-activity Useful Life in Years Bus Acquired Cost 1/1/15 $ 98,500 $ 5,000 2 1/1/15 116,000 12,000 3 1/1/16 88,100 7,500 4. For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 130,000. Actual miles of use in the first 3 years were 2016, 24,500; 2017, 33,500; and 2018, 33,000. For Bus #3, calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense per mile LINK TO TEXT Compute the amount of accumulated depreciation on each bus at December 31, 2017. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Accumulated depreciation BUS 1 BUS 2 BUS 3 If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1) 2015 and (2) 2016? (Round answers to 0 decimal places, e.g. 2,125.) (1) 2015 (2) 2016 Depreciation expense s In recent years, Avery 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 as follows. Salvage Value Depreciation Method Straight-line Declining-balance Units-of-activity Useful Life in Years Bus Acquired Cost 1/1/15 $ 98,500 $ 5,000 2 1/1/15 116,000 12,000 3 1/1/16 88,100 7,500 4. For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 130,000. Actual miles of use in the first 3 years were 2016, 24,500; 2017, 33,500; and 2018, 33,000. For Bus #3, calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense per mile LINK TO TEXT Compute the amount of accumulated depreciation on each bus at December 31, 2017. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Accumulated depreciation BUS 1 BUS 2 BUS 3 If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1) 2015 and (2) 2016? (Round answers to 0 decimal places, e.g. 2,125.) (1) 2015 (2) 2016 Depreciation expense s In recent years, Avery 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 as follows. Salvage Value Depreciation Method Straight-line Declining-balance Units-of-activity Useful Life in Years Bus Acquired Cost 1/1/15 $ 98,500 $ 5,000 2 1/1/15 116,000 12,000 3 1/1/16 88,100 7,500 4. For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 130,000. Actual miles of use in the first 3 years were 2016, 24,500; 2017, 33,500; and 2018, 33,000. For Bus #3, calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense per mile LINK TO TEXT Compute the amount of accumulated depreciation on each bus at December 31, 2017. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to 0 decimal places, e.g. 15%. Round final answers to 0 decimal places, e.g. 2,125.) Accumulated depreciation BUS 1 BUS 2 BUS 3 If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1) 2015 and (2) 2016? (Round answers to 0 decimal places, e.g. 2,125.) (1) 2015 (2) 2016 Depreciation expense s
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SOLUTION DEPRECIATION EXPENSE UNDER UNIT OF ACTIVITY METHOD COST SALVAGE VALUE TOTAL MILES ... View the full answer
Related Book For
Accounting Principles
ISBN: 978-1118342190
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
Posted Date:
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