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Question 1
The depreciation will be $ 3080 for the straight line method for both years
The depreciation in case of double declining method will be $ 1540
The depreciation per mile will be 3080/16700 i.e. 0.184 and 3080/10600 i.e. 0.29
Depreciation a/c3080
Accumulated Depreciation3080
Truck33000
Dep.(3080)
29920
Question 2
For building $15382
For Warehouse $ 4820
Depreciation a/c15382
Accumulated Depreciation15382
Question 3
No, it is used only in straight line method.
Question 4
The depreciation will be $ 3080 for the straight line method for both years
The depreciation in case of double declining method will be $ 1540
The depreciation per mile will be 3080/16700 i.e. 0.184 and 3080/10600 i.e. 0.29
Question 5
Yes
Question 6
20.5/28.9 = 0.71
Question 7
$81000
Question 8
$4625 each year
Question 9
$16340
Question 10
2.304
Question 11
0.933
69900,
75000
Question 12
Land 2200000
To Cash 2200000
Cash 840000
To Equipment840000
Cash 1450000
To land1450000
Equipment 2480000
To cash2480000
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