Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Prepare three depreciation tables for 2020, 2021, and 2022: one for straight-line depreciation (similar to the one in Illustration 9.10), one for double-declining balance

image text in transcribed

Prepare three depreciation tables for 2020, 2021, and 2022: one for straight-line depreciation (similar to the one in Illustration 9.10), one for double-declining balance depreciation (Illustration 9.14), and one for units-of-activity depreciation (Illustration 9.12). For units-of-activity, Natalie estimates she will drive the van as follows: 15,000 miles in 2020; 45,000 miles in 2021; 50,000 miles in 2022; 45,000 miles in 2023; 40,000 miles in 2024. Recall that Cookie Creations has a December 31 year-end. (Round depreciation cost/unit to 3 decimal places, e.g. 0.225.) Straight-line depreciation Year Depreciable Cost Depreciation Expense Accumulated Depreciation Net Book Value $ 2020 $ 2021 2022 Double-declining-balance depreciation $ $ Year NBV (Beg. of Year) Depreciation Expense Accumulated Depreciation $ 2020 $ 2021 2022 Units-of activity depreciation $ $ Net Book Value Year Units of Activity Depreciation Expense Accumulated Depreciation Net Book Value

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Cost Management A Strategic Emphasis

Authors: Edward Blocher, David Stout, Paul Juras, Gary Cokins

6th edition

978-0078025532

Students also viewed these Accounting questions

Question

3 / 8 t = 5 / 6t 1 / 4

Answered: 1 week ago