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In recent years, Sarasota Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant was in charge of selecting

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In recent years, Sarasota Transportation purchased three used buses. Because of frequent turnover in the accounting department, a 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. Salvage Value Useful Life In Years Depreciation Method Bus Acquired Cost Jan 1, 2020 1 $ 96,800 5 $ 7.500 2 Jan 1, 2020 111.000 4 10,500 Straight-line Declining-balance Units of activity 92.900 7.500 4 Jan. 1,2021 3 For the declining balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 122,000. Actual miles or use in the first 3 years were 2021. 25,000; 2022, 31,000 and 2023, 32,000. (1) * Your answer is incorrect. Compute the amount of accumulated depreciation on each bus at December 31, 2022. Accumulated depreciation BUS 1 96,800 BUS 2 111,000 BUS 3 $ 92900

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