ACC 308 3-2 Homework Chapter 11
ACC 308 3-2 Homework Chapter 11
1)
On January 1, 2013, the Excel Delivery Company purchased a delivery van for $50,000. At the end of its five-year service life, it is estimated that the van will be worth $2,000. During the five-year period, the company expects to drive the van 100,000 miles.
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Required:
Calculate annual depreciation for the five-year life of the van using each of the following methods. (Do not round intermediate calculations.)
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1. Straight line.
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2. Sum-of-the-years’ digits.
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3. Double-declining balance.
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4. Units of production using miles driven as a measure of output, and the following actual mileage:
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2)
On October 1, 2013, the Allegheny Corporation purchased machinery for $245,000. The estimated service life of the machinery is 10 years and the estimated residual value is $3,000. The machine is expected to produce 440,000 units during its life.
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Required:
Calculate depreciation for 2013 and 2014 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. (Do not round intermediate calculations.)
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1. Straight line.
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2. Sum-of-the-years’ digits.
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3. Double-declining balance.
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4. One hundred fifty percent declining balance.
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5. Units of production (units produced in 2013, 22,000; units produced in 2014, 37,000).
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Answers
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Posted 12 Oct 2017 06:10 AM
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ACC----------- 30-----------8Â -----------3-2----------- Ho-----------mew-----------ork----------- Ch-----------apt-----------er -----------11-----------
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file 1507789945-ACC 380 3-2 Homework Chapter 11.docx preview (184 words )
A-----------CC -----------380----------- 3------------2 H-----------ome-----------wor-----------k C-----------hap-----------ter----------- 11----------- 1-----------) -----------On -----------Jan-----------uar-----------y 1-----------, 2-----------013-----------, t-----------he -----------Exc-----------el -----------Del-----------ive-----------ry -----------Com-----------pan-----------y p-----------urc-----------has-----------ed -----------a d-----------eli-----------ver-----------y v-----------an -----------for----------- $5-----------0,0-----------00.----------- At----------- th-----------e e-----------nd -----------of -----------its----------- fi-----------ve------------yea-----------r s-----------erv-----------ice----------- li-----------fe,----------- it----------- is----------- es-----------tim-----------ate-----------d t-----------hat----------- th-----------e v-----------an -----------wil-----------l b-----------e w-----------ort-----------h $-----------2,0-----------00.----------- Du-----------rin-----------g t-----------he -----------fiv-----------e-y-----------ear----------- pe-----------rio-----------d, -----------the----------- co-----------mpa-----------ny -----------exp-----------ect-----------s t-----------o d-----------riv-----------e t-----------he -----------van----------- 10-----------0,0-----------00 -----------mil-----------es.----------- Â-----------  ----------- ----------- Re-----------qui-----------red-----------: -----------Cal-----------cul-----------ate----------- an-----------nua-----------l d-----------epr-----------eci-----------ati-----------on -----------for----------- th-----------e f-----------ive------------ye-----------ar -----------lif-----------e o-----------f t-----------he -----------van----------- us-----------ing----------- ea-----------ch -----------of -----------the----------- fo-----------llo-----------win-----------g m-----------eth-----------ods-----------. -----------(Do----------- no-----------t r-----------oun-----------d
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