In recent years, Concord Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and varlous methods were selected. Information concerning the buses is summarized as follows. Useful Life in Years Salvage Depreciation Method Bus Acquired Cost Value 1 1/1/18 $ 96,000 $ 6,500 Straight-line 1/1/18 128,000 11,000 Declining-balance Units-of-activity 3 1/1/19 95,100 9.000 For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 123.000. Actual miles of use in the first 3 years were 2019, 25,000; 2020, 31,000; and 2021, 32,500. v (al) X Your answer is incorrect. Try again. For Bus 3, calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense per mile
In recent years, Concord Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and varlous methods were selected. Information concerning the buses is summarized as follows. Useful Life in Years Salvage Depreciation Method Bus Acquired Cost Value 1 1/1/18 $ 96,000 $ 6,500 Straight-line 1/1/18 128,000 11,000 Declining-balance Units-of-activity 3 1/1/19 95,100 9.000 For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 123.000. Actual miles of use in the first 3 years were 2019, 25,000; 2020, 31,000; and 2021, 32,500. v (al) X Your answer is incorrect. Try again. For Bus 3, calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation expense per mile
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
For Bus #3 calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)
![CALCULATOR PRINTER VERSION
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Problem 10-02A a1-b (Part Level Submission)
In recent years, Concord Transportation purchased three used buses. Because of freguent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and varlous methods were selected. Information concerning the buses is summarized as follows.
Salvage
Value
Useful Life
in Years
Depreciation
Method
Bus
Acquired
Cost
1
1/1/18
$96,000
Straight-line
$6,500
2
1/1/18
128,000
11,000
Declining-balance
3
1/1/19
95,100
9,000
5
Units-of-activity
For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method., total miles are expected to be 123.000, Actual miles of use in the first 3 vears were 2019, 25.000: 2020, 31.000: and 2021, 32,500.
Y (al)
X Your answer is incorrect. Try again.
For Bus #3. calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)
Depreciation expense
per mile](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0f7c9c4b-9e5b-4b02-914a-2d0f518fa445%2F2a798861-4cc6-4d38-aeb1-e64cd6ad914d%2Fur0h37c_processed.jpeg&w=3840&q=75)
Transcribed Image Text:CALCULATOR PRINTER VERSION
4BACK
NEXT
Problem 10-02A a1-b (Part Level Submission)
In recent years, Concord Transportation purchased three used buses. Because of freguent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and varlous methods were selected. Information concerning the buses is summarized as follows.
Salvage
Value
Useful Life
in Years
Depreciation
Method
Bus
Acquired
Cost
1
1/1/18
$96,000
Straight-line
$6,500
2
1/1/18
128,000
11,000
Declining-balance
3
1/1/19
95,100
9,000
5
Units-of-activity
For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method., total miles are expected to be 123.000, Actual miles of use in the first 3 vears were 2019, 25.000: 2020, 31.000: and 2021, 32,500.
Y (al)
X Your answer is incorrect. Try again.
For Bus #3. calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)
Depreciation expense
per mile
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