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P9.2(LO 2) In recent years, Freeman Transportation purchased three used buses. Because of frequent turnover...

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Accounting

P9.2(LO 2) In recent years, Freeman Transportation purchased three used buses. Because of frequent turnover in the accounting department, a different accountant selected the depreciation method for each bus, and various methods were selected. Information concerning the buses is summarized below.
\table[[Bus,Acquired,Cost,\table[[Residual],[Value]],\table[[Useful Life],[in Years]],Depreciation Method],[1,11?23,96,000,6,000,5,Straight-line],[2,11?23,140,000,10,000,4,Declining-balance],[3,11?24,92,000,8,000,5,Units-of-activity]]
For the declining-balance method, the company uses the double-declining rate. For the units-of-activity method, total miles are expected to be 120,000. Actual miles of use in the first 2 years were 24,000 miles in 2024 and 36,000 miles in 2025.
Instructions
a. Compute the amount of accumulated depreciation on each bus at December 31,2025.
b. If Bus 2 was purchased on April 1 instead of January 1, what is the depreciation expense for this bus in (1)2023 and (2)2024?
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