ACCT 220 Week 5 Homework Answers

ACCT 220 Week 5 Homework Answers


Week 5


  • The Steel You Blind Company hires a bookkeeper who says that intangible assets can only be amortized over their legal lives. Is she right or wrong and why?






  • We Move Ya moving company purchased a new cross country moving truck and trailer on July 1, 2015. The cost of the new equipment was $150,000.  The truck and trailer is expected to have a 5 year useful life and a salvage value of $12,000.  The truck is a diesel and is expected to have a useful life of 10,000 hours.


Compute the depreciation expense under the following scenarios:

  • Straight line for 2015.





  • Units of Activity for 2015 assuming 1,700 hours of on-road use.







  • Double declining balance using twice the straight line rate for 2015 and 2016.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s