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 $119,000. Over

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 driven 210,000 miles. Salvage value is expected to be $7,700. (a) Your answer is correct. Compute the depreciation cost per unit. (Round answer to 3 decimal places, es, 6.251) 53 Depreciation cost per unit eTextbook and Media . Prepare a depreciation schedule assuming actual mileage was: 2022, 47,600:2023, 61,900:2024, 48,800; and 2025.51.700. {Round depreciation cost per unit to 3 decimal places, eg. 0.125 and other answers to decimal places, eg. 125) ion End of Year Depreciation Cost/Unit Annual Depreciation Expense Accumulated Depreciation Book Value 0.53 25228 25228 $ 0.53 32807 58039 0.53 25864 83899 0:53 27401 111300

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!

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...

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...

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...

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....

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....

Using Mohrs circle, prove that the expression I x I y I x y is independent of the orientation of the x and y axes, where I x , I y , and I x y represent the moments and product of inertia,...

Macbeth (1983 TV Movie) Watch one of the three plays from the Required Shakespeare Film page. Shakespeare is still taught today because he is still relevant today. Shakespeare wrote about thehuman...

What are the constraints of revenue generation and money creation by financial institutions and commercial banks like JP Morgan Chase?

If the following join statement is used to join two tables in a query, which of the following tables would all of the tuples in the relation appear in results? left join university.students on...