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Exercise 10-05 a-b (Part Level Submission) Novak Bus Lines uses the units-of-activity method in depreciating its buses
Exercise 10-05 a-b (Part Level Submission) Novak Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2020, at a cost of $299,818. Over its 6-year useful life, the bus is expected to be driven 190,600 miles. Salvage value is expected to be $8,200.
Prepare a depreciation schedule assuming actual mileage was: 2020, 48,600; 2021, 55,000; 2022, 51,000; and 2023, 36,000. (Round cost per unit to 2 decimal places, e.g. 15.25 and all other answers to 0 decimal places, e.g. 5,275.) Computation End of Year Year Units of Activity x Depreciation Cost /Unit = Annual Depreciation Expense Accumulated Depreciation Book Value 2020 $ $ $ $ 2021 2022 2023
Computation
End of Year
Year
Units of
Activity
x
Depreciation
Cost /Unit
=
Annual
Depreciation
Expense
Accumulated
Depreciation
Book
Value
2020
$
$
$
$
2021
2022
2023
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