Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Problem 9-2A (Part Level Submission) In recent years, Blue Spruce Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different

image text in transcribed
Problem 9-2A (Part Level Submission) In recent years, Blue Spruce Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is shown as follows. Salvage Useful Life Bus Acquired Cest 96,900 6,000 2,400 For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 124,000. Actual miles of use in the first 3 years were 2018, 23,000; 2019, 32,500; and 2020, 33,000. (a1) Your answer is correct. For Bus # 3, calculate depreciation expense per mile under units-of- activity method. (Round answer to 2 decimal places, e.g. 0.so.) (a2) Your answer is correct. Compute the amount of accumulated depreciation on each bus at December 31, 2019. (Round depreciation cost per unit to 2 decimal places, e.g. 0.50 and depreciation rate to O decimal places, e.g 15%. Round final answers to 0 decimal places, eg. 2,125.) Attempts:1 of If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1) 2017 and (2) 2018? (Round answers to 0 decimal places, e.g. 2,125.)

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_2

Step: 3

blur-text-image_3

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

Auditing Information Systems

Authors: Mario Piattini

1st Edition

1878289756, 9781878289759

More Books

Students also viewed these Accounting questions

Question

Describe the linkages between HRM and strategy formulation. page 74

Answered: 1 week ago

Question

Identify approaches to improving retention rates.

Answered: 1 week ago