Watch all Video's provided. They are a demonstration of Joe's Delivery which is similar to this assignment.
https://youtu.be/gFq5q_uWxGU
https://youtu.be/mpfdPs6RPfU
https://youtu.be/awgiAuoHO2A
https://youtu.be/NrbHf8GyIx0
Depreciation Schedules Barb's Florists
| Cost |
$13,000 |
| Expected salvage value |
$1,000 |
| Estimated useful life in years |
5 |
| Estimated useful life in miles |
100,000 |
A. Prepare the straight line depreciation table.
B. Prepare the double-declining balance depreciation table.
C. Actual usage of the machine was as follows: Yr 1: 12000, Yr 2: 18000 Yr 3: 21000 Yr 4: 14000 Yr 5: 60000
Journalize Purchase and DDB Depreciation:
D. Post 'T' Accounts: based on DDB Depreciation