Each ream member is to become an expert on one
- Each team member is to select an area for expertise from one of the following depreciation methods: straight-line, units-of-production, or double-declining-balance.
- Expert teams are to be formed from those who have selected the same area of expertise. The instructor will identify the location where each expert team meets.
- Using the following data, expert teams are to collaborate and develop a presentation answering the requirements. Expert team members must write the presentation in a format they can show to their
learning teams.
Point: This activity can follow an overview of each method. Step I allows for three areas of expertise. Larger teams will have some duplication of areas, but the straight-line choice should not be duplicated Expert teams can use the book and consult with the instructor.
Data and Requirements On January 8,2013. Whitewater Riders purchases a van to transport rafters back to the point of departure at the conclusion of the rafting adventures they operate. The cost of the van is $44,000. It has an estimated salvage value of $2,000 and is expected to be used for four years and driven 60,000 miles. The van is driven 12,000 miles in 2013.18,000 miles in 2014,21,000 in 2015, and 10,000 in 2016.
- Compute the annual depreciation expense for each year of the van’s estimated useful life.
- Explain when and how annual depreciation is recorded.
- Explain the impact on income of this depreciation method versus others over the van’s life.
- Identify the van’s book value for each year of its life and illustrate the reporting of this amount for any one year.
![Check Mark](/static/check-mark.png)
Want to see the full answer?
Check out a sample textbook solution![Blurred answer](/static/blurred-answer.jpg)
Chapter 10 Solutions
WORKING PAPERS F/ FUND ACCOUNTING
- The Rolling Department of Kama Steel Company had 2,000 tons in beginning work in process inventory (80% complete) on October 1. During October, 30,660 tons were completed. The ending work in process inventory on October 31 was 1,928 tons (80% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process?arrow_forwardSub. General accountingarrow_forwardSales are on credit?arrow_forward
- Electric Zero produces relay units for generators. Each relay has a standard cost of $67. Standards call for two relays per generator. In July, the company purchased 120 relays for $7,560. The company used 104 relays in the production of 50 generators, with four relays damaged in the installation process. The standard quantity of labor is 20 hours per generator, with a standard wage rate of $24.10. In July, the company incurred 1,150 labor hours at a cost of $24,350. How much is the labor rate variance?arrow_forwardexpert of general account answerarrow_forwardDon't use ai given answer accounting questionsarrow_forward
- Auditing: A Risk Based-Approach (MindTap Course L...AccountingISBN:9781337619455Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:Cengage LearningPrinciples of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax CollegeIntermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
- Essentials of Business Analytics (MindTap Course ...StatisticsISBN:9781305627734Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. AndersonPublisher:Cengage LearningAuditing: A Risk Based-Approach to Conducting a Q...AccountingISBN:9781305080577Author:Karla M Johnstone, Audrey A. Gramling, Larry E. RittenbergPublisher:South-Western College Pub
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337619455/9781337619455_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305627734/9781305627734_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305080577/9781305080577_smallCoverImage.gif)