Reference no: EM13533032
In recent years, Harper Transportation purchased three used buses. Because of frequent employee turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods have been used. Information concerning the buses is summarized in the table below.
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Salvage
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Useful Life
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Bus
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Acquired
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Cost
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Value
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(in years)
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Depreciation Method
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1
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Jan. 1, 2011
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$ 96,000
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$ 6,000
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5
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Straight-line
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2
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Jan. 1, 2011
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135,000
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10,000
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4
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Declining-balance
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3
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Jan. 1, 2011
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100,000
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4,000
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5
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Units-of-activity
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For the declining-balance method, Harper Transportation uses the double-declining rate. For the units-of-activity method, total miles are expected to be 160,000. Actual miles of use in the first 3 years were: 2011, 29,000; 2012, 34,000; and 2013, 35,000.
Instructions
(a) Compute the amount of accumulated depreciation on each bus at December 31, 2013.
(b) If Bus 2 was purchased on March 1 instead of January 1, what would be the depreciation expense for this bus in 2011? In 2012?
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