Provide correct answer general accounting question Mountain Valley Tours uses the units-of-activity method to depreciate itsfleet of tour buses. A new bus was purchased on January 1, 2025, at a costof $268,500. Over its 7-year useful life, the bus is expected to be driven210,000 miles. The salvage value is estimated to be $12,300.Compute the depreciable cost per unit (per mile). (Round the answer to 2decimal places.)

Step 1: Define Depreciable Cost per Unit (per mile)In the units-of-activity depreciation method, the…

Answered: Mountain Valley Tours uses the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 4EB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...

See similar textbooks

Similar questions

Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is expected to be driven for 125,000 miles. Montello uses the units-of-production depreciation method, and in year one the company expects the truck to be driven for 26,000 miles; in year two, 30,000 miles; and in year three, 40,000 miles. Consider how the purchase of the truck will impact Montellos depreciation expense each year and what the trucks book value will be each year after depreciation expense is recorded.
Yello Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2020, at a cost of $299,818. Over its 4-year useful life, the bus is expected to be driven 190,600 miles. Salvage value is expected to be $8,200. (a) X Your answer is incorrect. Compute the depreciable cost per unit. (Round answer to 2 decimal places, e.g. 0.50.) Depreciation cost per unit LA $ 1.40 per mile
Monty Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2022, at a cost of $233,839. Over its 5-year useful life, the bus is expected to be driven 139,900 miles. Salvage value is expected to be $8,600. (a) Compute the depreciable cost per unit. (Round answer to 2 decimal places, eg 0.50.) Depreciation cost per unit per mile eTextbook and Media Save for Later (b) Prepare a depreciation schedule assuming actual mileage was: 2022, 34,900: 2023, 28,000; 2024, 40,000; and 2025, 37,000. (Round cost per unit to 2 decimal places, eg 15.25 and all other answers to O decimal places, eg. 5,275.) Computation Annual Depreciation Expense Units of Depreciation Accumulated Year Activity Cost /Unit Depreciation 2022 2023 2024 2025
Manji
Whispering Winds Corp. purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected salvage value of $5,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2022 and 11,700 in 2023. (a1) Your answer is correct. Calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.) Depreciable cost .29 per mile eTextbook and Media List of Accounts Attempts: unlimited %24
Please give me answer accounting...
Metlock, Inc. purchased a delivery truck for $30,000 on January 1, 2022. The truck has an expected salvage value of $3,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,400 in 2022 and 12,500 in 2023. Calculate depreciable cost per mile under units-of-activity method.
Splish Brothers Inc. purchased a delivery truck for $47,000 on January 1, 2022. The truck has an expected salvage value of $12,000, and is expected to be driven 100,000 miles over its estimated useful life of 10 years. Actual miles driven were 15,500 in 2022 and 14,700 in 2023. Calculate depreciable cost per mile under units-of-activity method.
Cheyenne Corp. purchased a delivery truck for $42,000 on January 1, 2022. The truck has an expected salvage value of $9,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,600 in 2022 and 10,000 in 2023. Calculate depreciable cost per mile under units-of-activity method.
Whispering Winds Corp. purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected salvage value of $5.000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 16,100 in 2022 and 11,700 in 2023. (a1) Calculate depreciable cost per mile under units-of-activity method. (Round answer to 2 decimal places, eg. 0.50.) Depreciable cost per mile
Whippet Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2017, at a cost of $131,000. Over its 4-year useful life, the bus is expected to be driven 240,000 miles. Salvage value is expected to be $7,400. Compute the depreciation cost per unit. (Round answer to 3 decimal places, e.g. 6.251) Depreciation cost per unit $4 LINK TO TEXT VIDEO: APPLIED SKILLSS Prepare a depreciation schedule assuming actual mileage was: 2017, 52,400; 2018, 68,120; 2019, 53,710; and 2020, 35,370. (Round depreciation cost per unit to 3 decimal places, e.g. 0.125 and other answers to 0 decimal places, e.g. 125) Computation End of Year Units of Activity x Depreciation Cost/Unit = Annual Depreciation Expense Accumulated Depreciation Years Book Value 2017 2$ $4 $ 2018 2019 2020
Whippet Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2017, at a cost of $117,000. Over its 4-year useful life, the bus is expected to be driven 210,000 miles. Salvage value is expected to be $7,800. (a) Compute the depreciation cost per unit. (Round answer to 3 declmal places, e.g. 6.251) Depreciation cost per unit 24 eTextbook and Media Attempts: 0 of 3 used Submit Answer Save for Later

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS