Module 1 Assignment Part 2:

Apr 8th, 2015
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correct answers to Module 1 Assignment Part 2:

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Module 1 Assignment Part 1:At the beginning of the year, Fun Ships cruise line purchased a cruise ship at a cost of $55 million. Fun Ships expects the s(1,000,000 miles) and to have a residual value of $5 million.Fun Ships puts 80,000 miles on the ship the first year and 115,000 miles the second year. Compute Fun Ships' first and secruise ship using the following methods:1. Straight-line2. Units-of-production3. Double declining balanceRequirements:1Straight-Line-=/Fun Ships' depreciation on the cruiseship isFun Ships' depreciation on the cruiseship is23$0$0for year one.for year two.Units-of-production-=Funships' depreciation in year one isFunships' depreciation in year two is$0$0/xxmiles =miles =Double declining balanceDepreciation rate = 1 /Depreciation year one:Book valueYr 1Yr 2x2=Rate%.DepreciationFunships' depreciation in year one isFunships' depreciation in year two is$0$0..$0$0. Fun Ships expects the ship to remain useful for 10 yearsute Fun Ships' first and second year depreciation on theyears =per year.miles =$0$0..per mile.Module 1 Assignment Part 2:Fun Ship's decided to discard its ship at the end of 4 years. When its cost was $55 million and it hadaccumulated depreciation of $20 million.Record the disposition of the ship under the following independent situations:1 Fun Ship's sold the ship for $37 million.2 Fun Ship's discarded the equipment at a cost of $10 mi

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