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Can someone show me how the accumulated depreciation is figured? On Janiary 1, 2024, Air Asia purchased a used aiplane at a cost of $66,500,000.
Can someone show me how the accumulated depreciation is figured? On Janiary 1, 2024, Air Asia purchased a used aiplane at a cost of $66,500,000. Ar Asa expects the plane to remai useful for eight years (6,000,000 miles) and to have a residual value of 56,500,000. Air Asia expects the plane to be fown 1,600,000 miles the first yoar and 1,500,000 miles the second year: Read the reguirements Requirement 1a. Compute socond-year (2025) depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the straight-ine method. Then enter the amounts and calculate the depreciation expense for the second year Requirement 1b. Compute second-year (2025) depreciation expense on the plane using the units-of-production method Before calculating the second-year depreciation expense on the plane using the units-of-production method, calculate the depreciation expense per unit Select the formula, then enter the amounts and caiculate the denreriatinn axnence ner unit Now solect the formula, enter the amounts and caiculate the company's second-year depreciation expense on the plane using the units-of-production method Get more help - On Januaiy 1, 2024. Art Asia purchased a used arplane at a cost of 566,500,000. Ar Asia expects the plane to reman useful for eight years (6,000,000 miles) and to have a resitual value of $6,500,000. Nir Asia expects the plane to be flown 1,600,000 miles the firsi year and 1,500,000 miles time second year Read the requerements. Requirement 1c. Compute second.year (2025) deprecation expense on the plane using the double-declining balance method Begin by selecting the formula to calcilate the company's second year depreciation expense on the plane using the deuble-declining-balance method Then entar the amounts and calculate the depreciation expense for the second year Requirement 2. Calculate the balance in Accumulated Depreciation of the end of the second year for all three methods On January 1, 2024, Air Asia purchased a used airplane at a cost of 566,500,000 Air Asia cxpects the plane to remain useful for eight years (6,000,000 miles) and to have a residual value of $6,500,000. Air A sia expects the plane to be flown 1,600,000 miles the first year and 1,500,000 miles the second year Read the requirements Now, select the formula, enter the amounts and calculate the company's second-year depreciation expense on the plane using the units of production method Requirement 1c. Compute second-year (2025) depreciation expense on the plane using the double declining-balance method Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the double-decining-balance method Then enter the amounts and calculate the depreciation expense for the second year. Requirement 2. Cakulate the balance in Accumulated Depreciation at the end of the second year for all thiree methods
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