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Current Attempt in Progress In recent years, Swifty Transportation purchased three used buses. Because of frequent turnover in the accounting department different accountant was
Current Attempt in Progress In recent years, Swifty Transportation purchased three used buses. Because of frequent turnover in the accounting department different accountant was in charge of selecting the depreciation method for each bus, and various methods have been used. Information concerning the buses is summarized in the table below. Bus Acquired Cost Salvage Value Useful Life in Years Depreciation Method 1 Jan. 1, 2020 $96,500 $5,000 4 Straight-line 2 Jan. 1,2020 129,000 10,000 Declining balance 3 Jan. 1, 2021 94,100 8,000 Units of activity 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 2021. 27.500: 2022. 35.000: and 2023, 30,000 BO'P Balato stan H
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