AutoSaveOffACG2001 Module 10 Excel Quiz (1)Protected Viewp SearchSebastian BeltranSBFileHomeInsertPage LayoutFormulasDataReviewViewHelp2 ShareCommentsPROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View.Enable EditingH9fxAВCDEFGHKMP1820X71920X82021b) Double-decliningDepreciationAccumulatedBook Value After Year's22YearComputationExpenseDepreciationDepreciation2320X42420X52520X62620X72720X828c) Units-of-activity (Assume the truck was driven 10,000 miles, 50,000 miles, 20,000 miles, 20,000 miles, and2930,000 miles in 20X4-20X8, respectively.)DepreciationAccumulatedBook Value After Year's30YearComputationExpenseDepreciationDepreciation3120X43220X53320X63420X73520X83637Sheet1囲100%> AutoSaveOffACG2001 Module 10 Excel Quiz (1)Protected Viewp SearchSebastian BeltranSBFileHomeInsertPage LayoutFormulasDataReviewViewHelp2 ShareCommentsPROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View.Enable EditingH9fxAВCDEFGHKLMPOn January 1, 20X4, XYZ Company purchased a truck for $120,000. The truck is expected to have an estimated usefullife of 5 years or 125,000 miles, and the company estimates that it will be able to dispose of the truck at the end of itsuseful life for $20,000.91011Complete the tables below using the specified depreciation method.1213a) Straight-lineDepreciationAccumulatedBook Value After Year's14YearComputationExpenseDepreciationDepreciation1520X41620X51720X61820X71920X82021b) Double-decliningDepreciationAccumulatedBook Value After Year's22YearComputationExpenseDepreciationDepreciation2320X42420X52520X62620X72720X8Sheet1囲100%>

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Depreciable cost=Purchase price-Salvage value=$120,000-$20,000=$100,000Formulas: Rate of DDB = 1Useful life×2=15×2=0.40 or 40%Formulas: Rate=Depreciable costEstimated Miles=$100,000125,000=$0.8 For last year, the rate has been adjusted to get the salvage value of $20,000.

Business

Accounting

On January 1, 20X4, XYZ Company purchased a truck for $120,000. The truck is expected to have an estimated useful life of 5 years or 125,000 miles, and the company estimates that it will be able to dispose of the truck at the end of its useful life for $20,000. Complete the tables below using the specified depreciation method. a) Straight-line Depreciation Accumulated Book Value After Year's Year Computation Expense Depreciation Depreciation 20X4 20X5 20X6 20X7 20X8 b) Double-declining Depreciation Accumulated Book Value After Year's Year Computation Expense Depreciation Depreciation 20X4 20X5 20X6 20X7 20X8

On January 1, 20X4, XYZ Company purchased a truck for $120,000. The truck is expected to have an estimated useful life of 5 years or 125,000 miles, and the company estimates that it will be able to dispose of the truck at the end of its useful life for $20,000. Complete the tables below using the specified depreciation method. a) Straight-line Depreciation Accumulated Book Value After Year's Year Computation Expense Depreciation Depreciation 20X4 20X5 20X6 20X7 20X8 b) Double-declining Depreciation Accumulated Book Value After Year's Year Computation Expense Depreciation Depreciation 20X4 20X5 20X6 20X7 20X8

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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