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Use the following to answer questions 5 - 15 Dirt Property Management purchased a fleet...

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Accounting

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Use the following to answer questions 5 - 15 Dirt Property Management purchased a fleet of new mowers for an acquisition cost of $220,000. The company estimates the equipment will have a residual value of $40,000 when they are done using the mowers at the end of four years or about 200,000 machine hours. Determine the following based on straight-line depreciation 5. $ Book value at the end of year 3 6. $ Depreciation expense at the end of year 4 7. $ Accumulated depreciation at the end of year 4 8. $ Book value at the end of year 4 Determine the following based on Double declining balance: 9. $ Depreciation expense at the end of year 1 10. $. Depreciation expense at the end of year 2 11. $ Accumulated depreciation at the end of year 2 12. $ Book value at the end of year 2 13. $ Depreciation expense at the end of year 3 Dirt Property management used the mowers as follows: Year 1 2 Activity (MH) 55,100 52,300 51,300 41,300 3 4 14. Under activity based depreciation; what is the amount of depreciation expense they would have recorded for year 3? $ 15. Under activity based depreciation; what is the book value at the end of year 3? $

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