abubakaryousaf only - 45114

Request Posted by
aussieinmiss

aussieinmiss

Earned: $20949.8
Request Detail
Price: $20
  • From: Finance,
  • Due on: Wed 26 Feb, 2014 (04:33pm)
  • Asked on: Wed 26 Feb, 2014
  • Due date has passed, but you can still Post Solution.
Description
E-9-7 with P-9-5
 
 
E9-7..... Brainiac Company purchased a delivery truck for $30,000 on January 1, 2011.The truck
has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated
useful life of 8 years.Actual miles driven were 15,000 in 2011 and 12,000 in 2012.
Instructions
(a) Compute depreciation expense for 2011 and 2012 using (1) the straight-line method, (2) the
units-of-activity method, and (3) the double-declining balance method.
(b) Assume that Brainiac uses the straight-line method.
(1) Prepare the journal entry to record 2011 depreciation.
(2) Show how the truck would be reported in the December 31, 2011, balance sheet.
2 Solution for abubakaryousaf only
Title Price Category solution By purchased  
Excel Assignment
$30.00 no category abubakaryousaf 1 time(s)
Accounting Soution
$20.00 no category abubakaryousaf 1 time(s)
Please Login or Register to Submit the Solution for the Request