Homework Answers
Amount of depreciation = ($22,000 - $2,000) / 4 = $5,000 per year
Depreciation under straight line method will always be same for all the years.
Depreciation for 2nd year is $5,000
Option B.
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(5 points) Peavey Enterprises purchased a depreciable asset for $22,000 on April 1. Year 1. The...
Peavey Enterprises purchased a depreciable asset for $22,000 on April 1, Year 1. The asset will be depreciated using the...
Peavey Enterprises purchased a depreciable asset for $22,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,000, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of:A) $10,000B) $5,000C) $5,500D) $20,000E) $9,250
Peavey Enterprises purchased a depreciable asset for $32,000 on April 1, Year 1. The asset will...
Peavey Enterprises purchased a depreciable asset for $32,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $4,000, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? Multiple Choice $19,250 $5,833 $5,833 $7,000 $23,333
Peavey Enterprises purchased a depreciable asset for $31000 on April1, Year 1. The asset will be...
Peavey Enterprises purchased a depreciable asset for $31000 on April1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the assets salvage value is $3.800, what will be the amount of accumuliated depreciation on this asset on December 31, Year 3? $18.700 6,800 $22667 Type here to search /192019
Lima enterprises purchased a depreciable asset for 27500 on April 1 , year 1. The asset will be depreciated using the st...
Lima enterprises purchased a depreciable asset for 27500 on April 1 , year 1. The asset will be depreciated using the striaght line method over it 4 year useful life. Assuming the assets salvage value is 3100, Lima enterprises should recognize depreciation expense in year 2 in the amount of: A. 23,383.33 B. 5083.33 c. 6100.00 d. 24,400.00 e. 6875.00
Lima Enterprises purchased a depreciable asset for $31,500 on April 1, Year 1. The asset will...
Lima Enterprises purchased a depreciable asset for $31,500 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four year useful life. Assuming the asset's salvage value is $3,900, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? Multiple Choice Ο $23,000 Ο $18,975 Ο $27600 Ο $5.750 Ο $6,900
10. ABC purchased a depreciable asset for $22,000 on March 1, Year 1. The asset will be depreciated using the straight-l...
10. ABC purchased a depreciable asset for $22,000 on March 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the assets's residual value is $2,000, ABC should recognize depreciation expense in Year 2 in the amount of: A. $19,166.67 B. $5,000.00 C. $5,500.00 D. $20,000.00 E. $4,166.67 (explain your answer please)
Thomas Enterprises purchased a depreciable asset on October 1. Year 1 at a cost of $100,000....
Thomas Enterprises purchased a depreciable asset on October 1. Year 1 at a cost of $100,000. The asset is expected to have a salvage value of $15,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining balance method, the asset's book value on December 31, Year 3 will be: $18.360 O $21,600 $32,400 $90,000 $27.540 Lomax Enterprises purchased a depreciable asset for $22.500 on March 1, Year 1 The asset will be depreciated...
26. A company's income before interest expense and income taxes is $100,000 and its interest expense...
26. A company's income before interest expense and income taxes is $100,000 and its interest expense is $50,000. Its times interest earned ratio is: 0.50 1.50 2.00 1.00 0.70 27. A registrar keeps stockholder records and prepares official lists of stockholders and dividend payments. true of false 29.Eastline Corporation had 16,500 shares of $5 par value common stock outstanding when the board of directors declared a stock dividend of 5,445 shares. At the time of the stock dividend, the market...
Beckman Enterprises purchased a depreciable asset on October 1. Year 1 at a cost of $100.000....
Beckman Enterprises purchased a depreciable asset on October 1. Year 1 at a cost of $100.000. The asset is expected to have a salvage value of $15.000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31. Year 2 will be: Multiple Choice $18,360 $21,600 $27540 $54,000 $90,000
Colvin Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $148,000....
Colvin Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $148,000. The asset is expected to have a salvage value of $16,200 at the end of its five year useful life. If the asset is depreciated on the double declining balance method, the asset's book value on December 31, Year 2 will be Multiple Choice O $43,092 O $31968 $79.920 $133 200 $28,728
Peavey Enterprises purchased a depreciable asset for $31000 on April1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the assets salvage value is $3.800, what will be the amount of accumuliated depreciation on this asset on December 31, Year 3? $18.700 6,800 $22667 Type here to search /192019
Lima Enterprises purchased a depreciable asset for $31,500 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four year useful life. Assuming the asset's salvage value is $3,900, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? Multiple Choice Ο $23,000 Ο $18,975 Ο $27600 Ο $5.750 Ο $6,900
Thomas Enterprises purchased a depreciable asset on October 1. Year 1 at a cost of $100,000. The asset is expected to have a salvage value of $15,000 at the end of its five-year useful life. If the asset is depreciated on the double-declining balance method, the asset's book value on December 31, Year 3 will be: $18.360 O $21,600 $32,400 $90,000 $27.540 Lomax Enterprises purchased a depreciable asset for $22.500 on March 1, Year 1 The asset will be depreciated...
Beckman Enterprises purchased a depreciable asset on October 1. Year 1 at a cost of $100.000. The asset is expected to have a salvage value of $15.000 at the end of its five-year useful life. If the asset is depreciated on the double-declining-balance method, the asset's book value on December 31. Year 2 will be: Multiple Choice $18,360 $21,600 $27540 $54,000 $90,000
Colvin Enterprises purchased a depreciable asset on October 1, Year 1 at a cost of $148,000. The asset is expected to have a salvage value of $16,200 at the end of its five year useful life. If the asset is depreciated on the double declining balance method, the asset's book value on December 31, Year 2 will be Multiple Choice O $43,092 O $31968 $79.920 $133 200 $28,728
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