I need both answers Wuyoandi, Accounting Prindoles, 13e Help System Announcements Brief Exerose 10-07 1-62 (Part...

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Wuyoandi, Accounting Prindoles, 13e Help System Announcements Brief Exerose 10-07 1-62 (Part Level Submission) Cuever Service

I need both answers

business accounting

Answer 1

Answer #1

Solution a1:

Depreciation per mile = (Cost - Salvage value) / useful life in miles = ($38,640 - $1,200) / 156000 = $0.24 per mile

Solution a2:

Depreciation expense each year = Nos of miles driven * Depreciation per mile

Year 1 = 35600*$0.24 = $8,544

Year 2 = 20200*$0.24 = $4,848

Answer 2

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