Please answer 1 Thanks Patterson Company provided the following information onJanuary 1, 2020:Vehicle costUseful life in yearsUseful life in milesResidual value5,000,000100,0001,000,000Actual miles driven2020202130,00020,00015,0001 What is the depreciation for 2022 using the SYD2022method?1,000,000b. 1,333,000800,000d.8.C.600,0002 What is the accumulated depreciation on December 31,2021 using the double declining balance method?a. 1,200,000b. 1,600,000c. 2,560,000d. 3,200,0003. What is the accumulated depreciation on December 31,2022 using the miles driven?a. 2,000,000b. 2,600,000800,000d.C.600,000

Sum of years digit = 5 + 4 + 3 + 2 + 1 = 15 Used life till 2022 = Year 2020 + Year 2021 + Year…

Patterson Company provided the following information on January 1, 2020- Vehicle cost Useful life in years Useful life in miles Residual value 5,000,000 100,000 1,000,000 Actual miles driven 2020 2021 2022 30,000 20,000 15,000 1 What is the depreciation for 2022 using the SYD method? a. 1,000,000 b. 1,333,000 800,000 d. C. 600,000

Patterson Company provided the following information on January 1, 2020- Vehicle cost Useful life in years Useful life in miles Residual value 5,000,000 100,000 1,000,000 Actual miles driven 2020 2021 2022 30,000 20,000 15,000 1 What is the depreciation for 2022 using the SYD method? a. 1,000,000 b. 1,333,000 800,000 d. C. 600,000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 2E: Depreciation Methods Sorter Company purchased equipment for 200,000 on January 2, 2019. The...

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Ham Company provided the following information at year – end: 2018 2017 Building 25 000 000 25 000 000 Accumulated depreciation 5 000 000 3 875 000 The straight – line method of depreciation is used. The residual value is10% of asset cost. What is the useful life of the building?
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