Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Yello Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $273,346. Over

image text in transcribedimage text in transcribedimage text in transcribed

Yello Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $273,346. Over its 4-year useful life, the bus is expected to be driven 163,300 miles. Salvage value is expected to be $8,800. Prepare a depreciation schedule assuming actual mileage was: 2022, 51,300; 2023, 37,000; 2024, 34,000; and 2025, 41,000. (Round cost per unit to 2 decimal places, e.g. 15.25 and all other answers to O decimal places, e.g. 5,275.) End of Year Depreciable Cost/Unit Annual Depreciation Expense Accumulated Depreciation Book Value = 1.62 $ 83106 $ 83106 $ 1.62 59940 1.62 55080 1.62 66420 Prepare a depreciation schedule assuming actual mileage was: 2022, 51,300; 2023, 37,000; 2024, 34,000; and 2025, 41,000. (Round cost per unit to 2 decimal places, e.g. 15.25 and all other answers to O decimal places, e.g. 5,275.) Computation Units of Activity Depreciable Cost/Unit Annual Depreciation Expense Accumul Deprecia Year = 2022 51,300 1.62 83106 $ 2023 37,000 1.62 59940 2024 34,000 1.62 55080 2025 41,000 1.62 66420

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

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

Auditing Principles And Techniques

Authors: Sanjib Kumar Basu, Andrei Alexandrescu

1st Edition

8177581783, 9788177581782

More Books

Students also viewed these Accounting questions

Question

=+and show that the infimum and supremum are always achieved.

Answered: 1 week ago