Accounting Problem 9

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Puevfgva0206

Business Finance

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9) Alpha Company has the following items in its equipment account: 1. 2. 3. Asset & Date Purchased Delivery truck (4/30/15) Office Furniture (6/1/15) Computer (4/1/15) Method of Depreciation Unit of Activity Cost Salvage Value $60,000 $11,000 Straight Line $15,000 $500 Double Declining $5,000 $700 The delivery truck is estimated to have a life cycle of 200,000 miles. It was driven for 1. 16,500 miles in 2015 & 24,600 miles in 2016 & 25,000 miles in 2017 2. The Office Furniture has a life expectancy of 7 years. 3. The Computer has a life expectancy of 4 years. Round any per unit calculations to the nearest half penny. Round all annual depreciation expenses to the nearest dollar. Use this information to compute for Fiscal Year 2017 the following values: 1. Book Value of the Delivery Truck 2. Depreciation Expense – Truck 3. Book Value of the Office Furniture 4. Depreciation Expense – Office Furniture 5. Book Value of the Computer 6. Depreciation Expense – Computer
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Accounting Problem 9.
1. Book Value of the Delivery Truck
Accumulated depreciation for year 2015, 2016, 2014:
Total miles = 16,500 miles + 24,600 miles + 25,000 miles = 66,100 miles.
Accumulated depreciation = 66,100/200,000 ...


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