Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Units of Productivity/Activity Depreciation= (Cost - Salvage) / total units Asset 1: 2015 Ford F350 Units Yearly Depreciation Monthly Depreciation Depreciation Expense 330 Asset Name:
Units of Productivity/Activity Depreciation= (Cost - Salvage) / total units | |||||||||||||||
Asset 1: | 2015 Ford F350 | Units | Yearly Depreciation | Monthly Depreciation | Depreciation Expense | 330 | |||||||||
Asset Name: | Vehicles | Year 1 | 18000 | 0.22 | 3960 | 330 | Accumulated Depreciation | 330 | |||||||
Cost | 24,000 | Year 2 | 21000 | 0.22 | 4620 | 385 | |||||||||
Useful Life | 7 years | Year 3 | 15000 | 0.22 | 3300 | 275 | Final Balance Sheet Snippet | ||||||||
Salvage Value | 2,000 | Year 4 | 12000 | 0.22 | 2640 | 220 | Ford F350 | 24000 | |||||||
Units: Miles | 100,000 | Year 5 | 14000 | 0.22 | 3080 | 257 | Accumulated Depreciation | -22000 | Rounded, adjusted in final month | ||||||
Year 6 | 16000 | 0.22 | 3520 | 293 | Net Book Value | 2000 | |||||||||
Factor: | 0.22 | Year 7 | 4000 | 0.22 | 880 | 73 | adjust in final year |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started