.11 Extended 8:13 PM Done 49 of 50 se Reqaest Student Resources Sudent On Januar

Question

.11 Extended 8:13 PM Done 49 of 50 se Reqaest Student Resources Sudent On January 1,2017,Puget Sound Company purchased an automobae for use in ts bosness The wing ats re t Cost Estmated Salvage Value Estmated Lte in years Estmated Lte n mles Mles Driven 14,000 2.000 2017 2018 6.000 23,000 20,000 2020 Assume Puget Sound Company uses the unts of production method to compu depreciaion expense tor the year ended 12012018 deprecation what s the anounst or a 53,000 b53.48 c 54 060 d $3 120 57.,000 2311 ne The solowing nformation aas avaiblg for Marin Corporason as or

Explanation / Answer

Dear student, only one question is allowed at a time. I am answering the first question

Depreciation per mile

= (Cost – Salvage value) / Useful life in miles

= ($14,000 - $2,000) / 100,000

= $0.12 per mile

So, Depreciation for 2018

= Miles driven x Depreciation per mile

= 29,000 x $0.12

= $3,480

So, option b is the correct option

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