Tilda Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Tilda Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2012, at a cost of $168,000. Over its 4-year useful life, the bus is expected to be driven 100,000 miles. Salvage value is expected to be $8,000. Instructions (a) Compute the depreciation cost per unit. I (b) Prepare a depreciation schedule assuming actual mileage was: 2012, 26,000; 2013, 32,000; 2014, 25,000; and 2015, 17,000. Tilda Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2012, at a cost of $168,000. Over its 4-year useful life, the bus is expected to be driven 100,000 miles. Salvage value is expected to be $8,000. Instructions (a) Compute the depreciation cost per unit. I (b) Prepare a depreciation schedule assuming actual mileage was: 2012, 26,000; 2013, 32,000; 2014, 25,000; and 2015, 17,000.
Expert Answer:
Answer rating: 100% (QA)
a Depreciation cost per unit Orginal cost Salvage value Expected KM driven during l... View the full answer
Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
foxxy) = x + y R:12120 2 191b foby) Satisfy lipstizs cond" and consider Show that find lipschitz Constt.
-
Tilda Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2012, at a cost of $168,000. 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, 2017, at a cost of $148,000. Over its 4-year useful life, the bus is expected to be...
-
Develop a two-period weighted moving average forecast for periods 12 through 15. Use weights of 0.7 and 0.3, with the most recent observation weighted higher. PERIOD DEMAND 10............ 248...
-
Problem 9- 3A Estimating and reporting bad debts P2 At December 31, 2013, Hawke Company reports the following results for its calendar year. Cash sales . . . . . . . . . . $ 1,905,000 Credit sales ....
-
General price inflation is estimated to be 3% for the next 5 years, 5% the 5 years after that, and 8% the following 5 years. If you invest $10,000 at 10% for those 15 years, what is the future worth...
-
In a small stock dividend, a. Common stock is debited for the par value of the shares issued. b. Retained Earnings is debited for the market value of the shares issued. c. Paid-In Capital in Excess...
-
What methods could JAL and AA use to divide revenue and expenses on code-shared routes?
-
Sage Mining Company purchased land on February 1, 2025, at a cost of $914,300. It estimated that a total of 53,400 tons of mineral was available for mining. After it has removed all the natural...
-
In Integrative Case 10.1, we projected financial statements for Walmart Stores for Years +1 through +5. The data in Chapter 12, Exhibits 12.17 through 12.19 include the actual amounts for 2015 and...
-
Natalie Doak moved 1,000 kilometres from Winnipeg, on March 1, 2020, to a new job and earned $40,000 in her new work location. Her employer reimbursed the costs of selling her old residence and...
-
On 12 November 2013, Hazel made a gross chargeable transfer to a relevant property trust of 266,000 (after deduction of exemptions). On 1 April 2019 she gave 300,000 to her grandson. These were her...
-
Tony died on 11 July 2023, leaving an estate which was valued at 900,000. None of the transfers made on his death were exempt from IHT. He had made the following transfers during his lifetime:...
-
Tracey is a sole trader. She has the following transactions during the quarter to 31 December 2023 (all amounts shown are VAT-exclusive): Tracey drives a car with an emission rating of 118 g/km and...
-
On 7 August 2023, a VAT-registered company files its VAT return for the three months to 30 June 2023. This return shows that VAT of 18,200 is payable to HMRC, but the company does not pay this sum...
-
Smart Ltd began trading on 1 September 2023. Taxable turnover for the first four months of trading was as follows: On 1 November 2023, the company signed a contract to supply standard-rated services...
-
The wheel of a crank drive with radius R = 0.5m rotates on the ground. The collar A is on the wheel and moving along the bar BE. At the time instant, the absolute velocity and absolute acceleration...
-
Show that the block upper triangular matrix A in Example 5 is invertible if and only if both A 11 and A 22 are invertible. Data from in Example 5 EXAMPLE 5 A matrix of the form A = [ A11 A12 0 A22 is...
-
In its first year of operations, Lazirko Company earned $28,000 in service revenue, $6,000 of which was on account and still outstanding at year-end. The remaining $22,000 was received in cash from...
-
General Motors Company has accounts receivable and notes receivable. How should the receivables be reported on the balance sheet?
-
The following control procedures are used in Katjas Boutique Shoppe for cash disbursements. 1. Each week, Katja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register....
-
The financial management process is important for auditors because of its role in helping to form expectations about financial statement results. To illustrate this concept, explain how an...
-
Consider Manny Corp., our military outfitting operation from Chapter 10. Its financial data is reprinted here for convenience. a. If you were the auditor assigned to perform substantive analytical...
-
Following are some routine procedures for the audit of payroll (discussed in the Appendix). For each procedure, (1) state whether it is a test of controls or a substantive test, (2) state which...
Study smarter with the SolutionInn App