In recent years, Ivanhoe Transportation purchased three used buses. Because of frequent turnover in the accounting...
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In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E. In recent years, Ivanhoe 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. Acquired Residual Useful Life Depreciation Bus Cost Value in Years Method 1/1/18 £96,200 £7,000 Straight-line 1/1/18 111,000 12,000 Declining-balance 1/1/19 88,000 7,500 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 115.000. Actual miles of use in the first 3 years were: 2019, 26,000; 2020, 35,000; and 2021, 29.000. in 1. Calculate depreciable cost per mile for Bus 3. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost 0.7 per mile Compute the amount of accumulated depreciation on each bus at December 31, 2020. Accumulated Depreciation at December 31, 2020 BUS 1 53520 44400 BUS 2 2.1 BUS 3 E.
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Related Book For
Financial and managerial accounting
ISBN: 978-1118016114
1st edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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