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Category > Management Posted 05 Jul 2017 My Price 11.00

PT Angushas purchased three delivery trucks

In the recent years, PT Angushas purchased three delivery trucks. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method of each delivery truck, and various methods have been used. Information concerning the delivery trucks is summarized in the table below.

 

Delivery Truck

Acquired

Cost

Salvage Value

Useful Life (in years)

Depreciation Method

A

July 1, 2012

$125,000

$ 10,000

10

Straight-line

B

January 1, 2013

$ 95,000

$ 7,500

5

Double declining-balance

C

January 1, 2013

$ 96,000

$ 6,000

5

Units -of-activity

 

For the delivery truck nomor C, the truck is expected to be driven 150,000 miles. Actual miles of use in the first 3 years were: 2013: 2,800, 2014: 3,200; 2015: 3,300.

 

 

Required:

 

1. Prepare journal entries for purchasing those delivery trucks in cash.

2. Compute the amount of depreciation expense of each delivery truck per December 31, 2013.

3. Prepare journal entries for (2).

4. Prepare the depreciation table for delivery truck B.

 

Year

Book Value Beginning

Depreciation Rate

Annual Depreciation Expense

Accumulated Depreciation

Book Value Ending
           
           
           
           
           
 

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Maurice Tutor
(5)
Status NEW Posted 05 Jul 2017 07:07 PM My Price 11.00

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