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Category > Accounting Posted 23 Jun 2017 My Price 10.00

ACC 380 3-2 Homework Chapter 11

ACC 380 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.

   

Required:

Calculate annual depreciation for the five-year life of the van using each of the following methods. (Do not round intermediate calculations.)

    

1.

Straight line.

 

2. Sum-of-the-years’ digits.

 

3.

Double-declining balance.

 

4.

Units of production using miles driven as a measure of output, and the following actual mileage:

 

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.

 

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.)

 

1.

Straight line.

 

2.

Sum-of-the-years’ digits.

 

3.

Double-declining balance.

 

4.

One hundred fifty percent declining balance.

 

5.

Units of production (units produced in 2013, 22,000; units produced in 2014, 37,000).

 

 

 

Answers

SmartExpert
(118)
Status NEW Posted 23 Jun 2017 12:06 PM My Price 10.00

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Attachments

file 1498225916-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----------- 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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