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C- 6 Test Bank for Accounting Principles, Twelfth Edition Problem C - V Depreciation Methods (16 points) The following information is available for Carnegie Company.
C- 6 Test Bank for Accounting Principles, Twelfth Edition Problem C - V Depreciation Methods (16 points) The following information is available for Carnegie Company. which has an accounting year-end on December 31, 2017. 1. A delivery truck was purchased on June 1, 2015, for $60,000. It was estimated to have a $4,800 salvage value after being driven 115.000 miles. Prior to 201?, the truck was driven 43,000 miles, and during 2017, the truck was driven 18,500 miles. The units-ofactivity method of depreciation is used. 2. A building was purchased on January 1, 2005, for $2,700,000. It is estimated to have a $60,000 salvage value at the end of its 30-year useful life. The straight-line method of depreciation is being used. 3. Equipment was purchased on January 1, 2015, for $140,000. It was estimated that the equipment would have a $16,000 salvage value at the end of its 4-year useful life. The double-declining-balance method of depreciation is being used. Instructions: Complete the table shown below by filling in the appropriate amounts. You will probably want to create a complete depreciation table for each asset on a scratch sheet. Accumulated Depreciation Depreciation Expense for Book Value at Assets 1111'17 2017 12131117 Truck $ $ 96 Building $ $ $ Equipment $ $ $
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