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Just need some help on this and the parts to follow please! The answers in the white boxes are currently incorrect! I will rate! many
Just need some help on this and the parts to follow please! The answers in the white boxes are currently incorrect!
I will rate!
many thanks and God bless!
% 59-4 (similar to) Question Help On January 1, 2018, Northeast USA purchased a used airplane at a cost of $61,000,000. Northeast USA expects the plane to remain useful for eight years (6,000,000 miles) and to have a residual value of $7,000,000. Northeast USA expects the plane to be flown 1,200,000 miles the first year and 1,500,000 miles the second year. Read the requirements. Requirement 1a. Compute second-year (2019) 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-line method. Then enter the amounts and calculate the depreciation expense for the second year. Cost Residual value Useful life Straight-line depreciation ( $ 61,000,000 $ 7,000,000 ) - 8 $ 6,750,000 Requirement 1b. Compute second-year (2019) 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 calculate the depreciation expense per unit. Cost Residual value ) = Useful life in units Depreciation per unit 61,000,000 6750000 )= 1 54250000 Requirements -X 1. Compute second-year (2019) depreciation expense on the plane using the following methods a. 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. Print Done Enter any number in the edit fields and then click Check Answer. ? 4 parts remaining Clear All CheckStep by Step Solution
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