Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi I'm studying accounting and I got a question. So would there be anyone who would kindly answer this question? Thank you! a. Bus 2,

Hi I'm studying accounting and I got a question. So would there be anyone who would kindly answer this question? Thank you! image text in transcribedimage text in transcribed

a. Bus 2, 12/31/10, 11 1. Compute the amount or accumulated depreciation on each bus at December 31, 2020. b. If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1) 2018 and (2) 2019? p9.3 (LO 2) On January 1, 2020, Pele Industries purchased the following two machines for use in its Compute depreciation u methods. production process. Machine A: The cash price of this machine was R$35,000. Related expenditures included: sales tax. R$2,200, shipping costs R$ 150, insurance during shipping R$80, installation and test- ing costs R$ 70, and R$100 of oil and lubricants to be used with the machinery during its first year of operations. Pele estimates that the useful life of the machine is 5 years with a R$5,000 residual value remaining at the end of that time period. Assume that the straight-linc method of depreciation is used. Machine B: The recorded cost of this machine was R$80,000. Pele estimates that the useful life of the machine is 4 years with a R$5,000 residual value remaining at the end of that time period. Instructions mes sur biztos voltam Q4. Page 9-41, P9.3 Instructions a. 1. as in the textbook 2. as in the textbook 3. What is the depreciation expense for 2020 assuming that: i) The declining balance method with the depreciation rate of 33% is used ii) The double declining balance method is used iii) The sum of the year's digits method is used iv) Machine A was purchased on September 1, 2020 and the declining balance method is used v) Machine A was purchased on October 1, 2020, and the sum of the year's digits method is used

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Atomic Audit The Costs And Consequences Of US Nuclear Weapons Since 1940

Authors: Stephen I. Schwartz

1st Edition

0815777736, 978-0815777731

More Books

Students also viewed these Accounting questions

Question

2. Are you varying your pitch (to avoid being monotonous)?

Answered: 1 week ago

Question

3. Are you varying your speaking rate and volume?

Answered: 1 week ago