Question: Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $140,000. Over

$140,000. Over its 4 -year useful life, the bus is expected to

Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $140,000. Over its 4 -year useful life, the bus is expected to be driven 240,000 miles. Salvage value is expected to be $9,200. (a) Your answer is correct. Compute the depreciation cost per unit. (Round answer to 3 decimal places, es. 6.251) Prepare a depreciation schedule assuming actual mileage was: 2022,56,000;2023,72,800;2024,57,400; and 2025,53,800. (Round depreciation cost per unit to 3 decimal places, eg. 0.125 and other answers to 0 decimal places, eg. 125) Prepare a depreciation schedule assuming actual mileage was: 2022,56,000;2023,72,800;2024,57,400; and 2025, 53,800. (Round depreciation cost per unit to 3 decimal ploces, eg. 0.125 and other answers to 0 decimal places, eg. 125)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $119,000. Over its 4-year useful life, the bus is expected to be...

if you could also show how to do the years 2024 and 2025 Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of...

thats all there was for an explination there is two different questions Prepare journal entries to record these transactions. (Credit account titles are automatically indented when amount is entered....

Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $119.000. Over its 4-year useful life, the bus is expected to be...

Ivanhoe Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2025, at a cost of $140,000. Over its 4-year useful life, the bus is expected to be...

Yello Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $ 148,000. Over its 4-year useful life, the bus is expected to be...

kindly answer missing parts (b) Prepare a depreciation schedule assuming actual mileage was: 2022, 40,600; 2023, 42.000; 2024, 49,000; and 2025, 31.000. (Round cost per unit to 2 decimal places, e.g....

The mass of the earth is 5.97 x 10 24 kg and its radius is 6370 km. The radius of the moon is 1738 km. The acceleration of gravity at the surface of the moon is 1.62 m/s 2 . What is the ratio of the...

Consider the following statistical argument: 3. "A recent study has found that most people, about 2 of 3 people, believe that the U.S. military is number one in the world. The study consisted of 701...

When asked how much you can afford each month for a car, be sure to ask:

Which of the following are problems with identifying users of ABC? Multiple select question. ABC means different things to different organizations. Organizations will announce the discontinuance of...

Use sentence structure. Write one or more sentences to tell members of a school jazz band that their application to perform in a parade at Disneyland has not been accepted. Use sentence structure to...

Use mechanical means. Use mechanical means in a sentence to emphasize the importance of attending a business seminar on job interviews.

Use format. Use format in a sentence to emphasize the number of students in your graduating class who will continue their education.