Required information RWP7-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $14,600. They expect to use the Suburban for five years and then sell the vehicle for $5,800. The following expenditures related to the vehicle were also made on July 1, 2025: • The company pays $2,450 to GEICO for a one-year insurance policy. ⚫ The company spends an extra $5,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. • An additional $2,650 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,700 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. RWP7-1 (Algo) Great Adventures Continuing Case Part 3 3. Prepare a depreciation schedule using the straight-line method. GREAT ADVENTURES End of Year Amounts Depreciation Accumulated Expense Depreciation Year 2025 $ 1,760 $ 2026 2027 2028 2029 2030 Total 1,760 Book Value 1,760 $ 12,840
Required information RWP7-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $14,600. They expect to use the Suburban for five years and then sell the vehicle for $5,800. The following expenditures related to the vehicle were also made on July 1, 2025: • The company pays $2,450 to GEICO for a one-year insurance policy. ⚫ The company spends an extra $5,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. • An additional $2,650 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,700 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. RWP7-1 (Algo) Great Adventures Continuing Case Part 3 3. Prepare a depreciation schedule using the straight-line method. GREAT ADVENTURES End of Year Amounts Depreciation Accumulated Expense Depreciation Year 2025 $ 1,760 $ 2026 2027 2028 2029 2030 Total 1,760 Book Value 1,760 $ 12,840
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter26: Capital Budgeting (capbud)
Section: Chapter Questions
Problem 5R
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![Required information
RWP7-1 (Algo) Great Adventures Continuing Case
[The following information applies to the questions displayed below.]
Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to
purchase a used Suburban on July 1, 2025, for $14,600. They expect to use the Suburban for five years and then sell the
vehicle for $5,800. The following expenditures related to the vehicle were also made on July 1, 2025:
• The company pays $2,450 to GEICO for a one-year insurance policy.
⚫ The company spends an extra $5,600 to repaint the vehicle, placing the Great Adventures logo on the front hood,
back, and both sides.
• An additional $2,650 is spent on a deluxe roof rack and a trailer hitch.
The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In
addition, on October 22, 2025, the company pays $1,700 for basic vehicle maintenance related to changing the oil,
replacing the windshield wipers, rotating the tires, and inserting a new air filter.
RWP7-1 (Algo) Great Adventures Continuing Case Part 3
3. Prepare a depreciation schedule using the straight-line method.
GREAT ADVENTURES
End of Year Amounts
Depreciation Accumulated
Expense Depreciation
Year
2025
$
1,760 $
2026
2027
2028
2029
2030
Total
1,760
Book Value
1,760 $
12,840](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fde68d8f3-d52e-47ee-9408-1448eed7f155%2F53eaa5c4-55b4-41c5-9d61-a38ce4712f90%2F5twyl6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
RWP7-1 (Algo) Great Adventures Continuing Case
[The following information applies to the questions displayed below.]
Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to
purchase a used Suburban on July 1, 2025, for $14,600. They expect to use the Suburban for five years and then sell the
vehicle for $5,800. The following expenditures related to the vehicle were also made on July 1, 2025:
• The company pays $2,450 to GEICO for a one-year insurance policy.
⚫ The company spends an extra $5,600 to repaint the vehicle, placing the Great Adventures logo on the front hood,
back, and both sides.
• An additional $2,650 is spent on a deluxe roof rack and a trailer hitch.
The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In
addition, on October 22, 2025, the company pays $1,700 for basic vehicle maintenance related to changing the oil,
replacing the windshield wipers, rotating the tires, and inserting a new air filter.
RWP7-1 (Algo) Great Adventures Continuing Case Part 3
3. Prepare a depreciation schedule using the straight-line method.
GREAT ADVENTURES
End of Year Amounts
Depreciation Accumulated
Expense Depreciation
Year
2025
$
1,760 $
2026
2027
2028
2029
2030
Total
1,760
Book Value
1,760 $
12,840
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