Gradebook ORION Downleadable eTextbook ent CALCULATOR PULL SCREEN PRENTER VERSEO

Question

Gradebook ORION Downleadable eTextbook ent CALCULATOR PULL SCREEN PRENTER VERSEONBACK es u ecth isy in dering bus On.e bus was purchased on January 1, 2019, at a cost of $29, 518. Over is t yeur usetu fh, the tus a Compute the depreciable cost per unit. (Round answer to 2 declmal places, e.g. o.5o.) Deprecation cost per unt 1s er mile VIDEOL APPLIED SKILLS Prepare a depreciation schedule assuming actual mileage was: 2019, 48,600; 2020, 55,000; 2021, 51,000; and 2022, 36,000. (Round cost per unit to 2 decimal places, e.g. 15.25 and all other answers to O decimal places, e.p. 5,275.) End of Year Annual Units of Cost /UnitExpense Depreclation Book Value Year Activity 2019 48600 2020 5000 4150 2021 51000 153 8030 2022

Explanation / Answer

Cost = $299,818

Salvage value = $8,200

Expected life = 190,600 miles

Depreciation cost per unit = (Cost - Salvage value) ÷ Estimated life = (299,818-8,200)÷190,600 = 291,618÷190,600 = $1.53 per mile.

Book value = Cost - Accumulated depreciation

Year Units of activity × Depreciation cost /unit = Annual Depreciation Expense Accumulated Depreciation Book value 2019 48,600 $1.53 $74,358 $74,358 $225,460 2020 55,000 1.53 84,150 158,508 141,310 2021 51,000 1.53 78,030 236,538 63,280 2022 36,000 1.53 55,080 291,618 8,200

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