CALCULATOR FULL SCREEN PRINTER VERSION HACK NEXT Problem 10-02A al-b In recent years, Concord Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized as follows Bus Acquired 1/1/18 1/1/18 1/1/19 1 Useful Life in Years 5 Salvage Value $ 6,500 11,000 9,000 Cost $ 96,000 128,000 95,100 2 Depreciation Method Straight-line Declining-balance Units-of-activity 4 3 5 For the declining balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 123,000. Actual miles of use in the first 3 years were 2019, 25,000; 2020, 31,000; and 2021, 32,500. For Bus #3, calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, ..0.50.) Depreciation expense $ per mile LINK TO TEXT Compute the amount of accumulated depreciation on each bus at December 31, 2020. (Round answers to o decimal places, e.g. 2,125.) Accumulated depreciation BUS 1 CALCULATOR Compute the amount of accumulated depreciation on each bus at December 31, 2020. (Round answers to o decimal places, e.g. 2,125.) FULL SCREEN PRINTER VERSION BACK Accumulated depreciation BUS 1 BUS 2 BUS 3 LINK TO TEXT If Bus 2 was purchased on April 1 Instead of January 1, what is the depreciation expense for this busin (1) 2018 and (2) 2019? (Round answers to decimal places, .. 2,125.) (1) (2) 2018 2019 Depreciation expense $ $ Click if you would like to show Work for this question: Qen Show Work 5. $ 3,870,000 Land Buildings Less: Accumulated depreciation-buildings Equipment Lass: Accumulated depreciation-equipment Teplant assets 16,660,000 $27,000,000 10,420,000 48,520,000 4,610,000 43,910,000 $64,440,000 2021, the following selected cash transactions occurred, april Purchased land for $2,140,000 May 1 Sold equipment that cost $930,000 when purchased on January 1, 2017. The equipment was sold for $558,000. June Sold land purchased on June 1, 2011 for $1,590,000. The land cost $402,000. July 1 Purchased equipment for $2,480,000. Dec. 31 Retired equipment that cost $517,000 when purchased on December 31, 2011. The company received no proceeds related to salvage Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value The equipment is estimated to have a 10-year useful life and no salvage value. Update depreciation on assets disposed of at the time of sale or retirement. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Problem 10-05A a-c (Video) At December 31, 2020, Pina Colada Company reported the following as plant assets. $ 3,870,000 16,660,000 Land Buildings $27,080,000 Less: Accumulated depreciation-buildings 10,420,000 Equipment 48,520,000 Less: Accumulated depreciation-equipment 4,610,000 Total plant assets 43,910,000 $64,440,000 During 2021, the following selected cash transactions occurred. April 1 May 1 June 1 July 1 Dec. 31 Purchased land for $2,140,000 Sold equipment that cost $930,000 when purchased on January 1, 2017. The equipment was sold for $558,000 Sold land purchased on June 1, 2011 for $1.590,000. The land cost $402,000 Purchased equipment for $2,480,000. Retired equipment that cost $517,000 when purchased on December 31, 2011. The company received no proceeds related to saivape. Journalize the above transactions. The company uses straight-line depreciation for buildings and equipment. The buildings are estimated to have a 50-year life and no salvage value The equipment is estimated to have a 10-year useful life and no salvage value Update depreciation on assets disposed of at the time of sale or retirement (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. I no entry is required select "No Entry for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit SUM (To record depreciation) May 1 (To record sale of equipment) (To record depreciation) (To record retirement of equipment) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Record adjusting entries for depreciation for 2021. (Credit account titles are automatically indented when entries in the order presented in the problem. If no entry is required, select "No Entry" for the accoun Date Account Titles and Explanation Debit Credit (To record building depreciation) (To record equipment deprecition) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare the plant assets section of Pina Colada's balance sheet at December 31, 2021. (List Plant Assets in order of Pina Colada Company Balance Sheet (Partial) $ $ Pina Colada Company Balance Sheet (Partial) $ Click if you would like to Show Work for this question: Open Show Work c Problem 10-06A Grouper Co. has equipment that cost $77,400 and that has been depreciated $50,500. Record the disposal under the following assumptions. (a) (b) (c) It was scrapped as having no value. It was sold for $22,200. It was sold for $29,500. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry and enter 0 for the amounts.) Debit Credit No. Account Titles and Explanation (a) (b) b) (c)