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 VERSION4BACKNEXTProblem 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.SalvageValueUseful Lifein YearsDepreciationMethodBusAcquiredCost11/1/18$96,000Straight-line$6,50021/1/18128,00011,000Declining-balance31/1/1995,1009,0005Units-of-activityFor 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 expenseper mile

Depreciation per mile = (Original cost - Salvage value) / Total miles

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

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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Please explain how you arrived at the accumulated depreciation figure at 5.2
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