Coronado Interiors purchased a delivery truck for R$33,000 on January 1, 2020. The truck has an expected residual value of R$1,390, and is expected to be driven 109,000 miles over its estimated useful life of 10 years. Actual miles driven were 15,400 in 2020 and 12,500 in 2021. Calculate depreciable cost per unit. (Round answers to 2 decimal places, e.g. O.50.) Depreciable cost per unit R$ per mile eTextbook and Media List of Accounts Compute depreciation expense for 2020 and 2021 using the straight-line method, the units-of-activity method, and the double- declining-balance method. 2020 2021 Straight-line method R$ R$ Units-of-activity method R$ R$

Coronado Interiors purchased a delivery truck for R$33,000 on January 1, 2020. The truck has an expected residual value of R$1,390, and is expected to be driven 109,000 miles over its estimated useful life of 10 years. Actual miles driven were 15,400 in 2020 and 12,500 in 2021. Calculate depreciable cost per unit. (Round answers to 2 decimal places, e.g. O.50.) Depreciable cost per unit R$ per mile eTextbook and Media List of Accounts Compute depreciation expense for 2020 and 2021 using the straight-line method, the units-of-activity method, and the double- declining-balance method. 2020 2021 Straight-line method R$ R$ Units-of-activity method R$ R$

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Coronado Interiors purchased a delivery truck for R$33,000 on January 1, 2020. The truck has an expected residual value of
R$1,390, and is expected to be driven 109,000 miles over its estimated useful life of 10 years. Actual miles driven were 15,400 in
2020 and 12,500 in 2021.
Calculate depreciable cost per unit. (Round answers to 2 decimal places, e.g. 0.50.)
Depreciable cost per unit
R$
per mile
eTextbook and Media
List of Accounts
Compute depreciation expense for 2020 and 2021 using the straight-line method, the units-of-activity method, and the double-
declining-balance method.
2020
2021
Straight-line method
R$
R$
Units-of-activity method
R$
R$
Declining-balance method
R$
R$

Assume that Coronado uses the straight-line method.
(1)
Prepare the journal entry to record 2020 depreciation.
(2)
Show how the truck would be reported in the December 31, 2020, statement of financial position.
Account Titles and Explanation
Debit
Credit
Depreciation Expense
Accumulated Depreciation-Equipment
CORONADO INTERIORS
Statement of Financial Position
December 31, 2020
Depreciation Expense
R$
Less
: Accumulated Depreciation-Equipment
R$

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