Question
Patterson Company provided the following information on January 1, 2016: Vehicle cost 5,000,000 Useful life in years 5 Useful life in miles 100,000 Residual value
Patterson Company provided the following information on January 1, 2016:
Vehicle cost 5,000,000
Useful life in years 5
Useful life in miles 100,000
Residual value 1,000,000
Actual miles driven
2016 30,000
2017 20,000
2018 15,000
36. What is the depreciation for 2018 using the SYD method?
a. 1,000,000
b. 1,333,000
c. 800,000
d. 600,000
37. What is the accumulated depreciation on December 31, 2017 using the double declining
balance method?
a. 1,200,000
b. 1,600,000
c. 2,560,000
d. 3,200,000
38. What is the accumulated depreciation on December 31, 2018 using the miles driven?
a. 2,000,000
b. 2,600,000
c. 800,000
d. 600,000
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