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PLEASE ANSWER THE FOLLOWING:
Question (1): on 1\1\2010, Al-Etihad Airline, Ltd. purchased an airplane for $200 million. It is anticipated to last 70,000 hours or 10 years. Its residual value is 20% of the cost. Instruction: 1) Use the straight-line method, to calculate depreciation expenses for 10 years Closing Carrying Value Year Opening Carrying Value Depreciation Expense Accumulated Depreciation 0 1 2 3 4 5 6 7 8 9 10 2) Use the double declining-balance method, to calculate depreciation expenses for 10 years Year Opening Carrying Value Depreciation Closing Carrying Value Accumulated Depreciation Expense 0 1 2 3 4 5 6 7 8 9 10
3) Use the sum-of-the-year-digit method, to calculate depreciation expenses for 10 years Closing Carrying Value Year Opening Carrying Value Depreciation Accumulated Expense Depreciation 0 7 8 9 10 Build upon information mentioned above, calculate the depreciation expenses for the airplane based on the trips it has done. The following table displays the trips taken per year. Year The percentage of flying hours for each year out of the total number of estimated flying hours 1 16% 2 14% 3 14% 4 15% 5 11% 6 9% 7 9% 8 5% 9 4% 10 4% Total 100% 4) Use the activity method, to calculate depreciation expenses for 10 years Closing Carrying Value Year Opening Carrying Value Depreciation Expense Accumulated Depreciation 0 1 2 3 4 5 6 7 8 9 10 1 2 3 4 6