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Hi! Can you please show me how to do the last part of this question and fill in the numbers? Thank you so much! On
Hi! Can you please show me how to do the last part of this question and fill in the numbers? Thank you so much!
On January 1, 2018, Queslor Airline purchased a used airplane at a cost of $30,000,000. Queslor Airline expects the plane to remain useful for eight years (4,000,000 miles) and to have a residual value of $6,000,000. Questor Airline expects the plane to be flown 1,600,000 miles the first year and 1,100.000 miles the second year. Read the requirements Belore calculating the second-year depreciation expense on the plane using the unils-ol-production method, calculate the deprecabon expense per unit. Select the formula, then enter the amounts and calculate the deprecabon expense per unit. Cost Residual value Useful life in unils = Depreciation per unit 30.000.000 S 6,000,000 4,000,000 6 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. Requirements x Depreciation per unit 6 Current year usage 1,100,000 Units-of-production depreciation 6,600,000 $ Requirement 1c. Compute second-year (2019) 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-declining bnd year. 1. Compute second-year (2019) cepreciation expense on the plane using the following methods: Straight-line b. Units-of-production c. Double-declining-balance 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods. Double-declining- Cost ) 2 x (1 / Useful life) Accumulated depreciation S 7,500,000 30,000,000 = balance depreciation $ 5,625,000 X 2x (1/8) Requirement 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods. Print Done Double-declining-balance Straight-Line 300000001 Depreciation Expense - 2016 Depreciation Expense - 2019 Units-of-production 3000000 6,600,000 30000000 300000001 5625000 Accumulated Depreciation ending balance Enter any number in the edit fields and then click CheckStep by Step Solution
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