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Acct557-10-2A_-10-3A(1)(1)

# Acct557-10-2A_-10-3A(1)(1) - LouisWilson...

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Louis Wilson Instructor: Dr. Gbenedio/Acct 557 P10-2A Juresic Transportation (a) Year Computation BUS 1 2006 \$90,000 X 20% = \$18,000 \$18,000  2007 \$90,000 X 20% = \$18,000 36,000 2008 \$90,000 X 20% = \$18,000 54,000 BUS 2 2006 \$120,000 X 50% = \$60,000 \$60,000  2007 \$60,000 X 50% = \$30,000 90,000 2008 \$30,000 X 50% = \$15,000 105,000 BUS 3 2007 24,000 miles X \$.60 = \$14,400 \$14,400  2008 34,000 X \$60 = \$20,400 34,800 \$72,000  ÷  120,000 miles = \$.60 per mile (B) Year Computation Expense BUS 2 2006 \$120,000 x 50% x 9/12 = \$45,000 \$45,000  2007 \$75,000 x 50% = \$37,500 \$37,500                    12/31

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Louis Wilson Instructor: Dr. Gbenedio/Acct 557 P10-3A PELE COMPANY (A) (1) Purchase price \$38,000  Sales Tax 1,700 Shipping Costs 150 Insurance during shipping 80 Installation and testing 70 Total cost of machinery \$40,000  Machinery \$40,000          Cash \$40,000  (2) Recorded cost \$40,000  Less: Salvage value 5,000 Depreciable cost \$35,000  Years of useful life      ÷              5         Annual depreciation \$7,000  Depreciation Expense 7,000         Accumulation depreciation 7,000 (b) (1)  Recorded cost 160,000
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