QUESTION $4$

$2024-80,000km$

$2025-140,000$ km

$2026-120,000km$

$2027-60,000km$

The company has a December $31$ fiscal$-$year end and would like to use units of production depreciation. Required:

a$.$ Prepare a depreciation schedule for the life of the asset.

b$.$ Record the depreciation expense for the third year.

c$.$ Record journal entry if the vehicle is sold for $$100,000$ cash at the end of the second year$-$

a$.$ Depreciation Schedule:

Use comma $(.)$ as the thousand separators; e$.$g$.10,000.$ If there are any decimal numbers, round it up to the nearest integer. e$.$g$.15,533\mathrm{.}25$ will be $15,533$ oR $15,533\mathrm{.}50$ will be $15,534$

$\backslash$table$[[$Year$,$Depreciation Expense,Accumulated Depreciation,Net Book Value$],[2024,,,],[2025,,,],[2026,,,],[2027,,,]]$

b$.$ Record the depreciation expense for the third year:

Use comma $(.)$ as the thousand separators; e$.$g$.10,000.$ If there are any decimal numbers, round it up to the nearest integer. e$.$g$.15,533\mathrm{.}25$ will be $15,533$ OR $15,533\mathrm{.}50$ will be $15,534$

Use the following account names: Depreciation Expense AND Accumulated Depreciation

$\backslash$table$[[$Account Name,Debit,Credit$],[,[,],[,,]]$

c$.$ Record journal entry if the vehicle is sold for $$100,000$ cash at the end of the second year.

Use comma $(.)$ as the thousand separators; e$.$g$.10,000.$ If there are any decimal numbers, round it up to the nearest integer. e$.$g$.15,533\mathrm{.}25$ will be $15,533$ OR $15,533\mathrm{.}50$ will be $15,534$

Use the following account names: Accumulated Depreciation AND Cash AND Vehicle AND Gain on Sale OR Loss on Sale $($there will be either a gain or a loss, choose the correct account to journalize$)$

Journalize the debits and credits in alphabetical order.

$\backslash$table$[[$Account Name,Debit,Credit$],[,,],[,,],[,,],[,,]]$