Answer is given below
16. A machine with a cost of $80,000 has an estimated residual value of $5,000 and...
QUESTION 2 A machine with a cost of $65,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. What is the amount of depreciation for a second full year, during which the machine was used 5,000 hours? O $8,000 O$20,000 $12,000 O $21.667
24. A machine with a cost of $75.000 has an estimated residual value of $5,000 and an estimated life of four ye or 18,000 hours. What is the amount of depreciation for the second full year, using the double-declining-balance met a. $17.500 b. $37,500 c. $18,750 d. $16,667 25. The process of transferring the cost of metal ores and other minerals removed from the earth to an expo account is called a. depletion b. deferral c. amortization d. depreciation 120-day...
Equipment acquired at a cost of $75,000 has an estimated residual value of $5,000 and an estimated useful life of 10 years. It was placed in service on October 1 of the current fiscal year, which ends on December 31. a. Determine the depreciation for the current fiscal year and for the following fiscal year by the straight-line method. b. Determine the depreciation for the current fiscal year and the following fiscal year by the double-declining-balance method.
Cost of machine $100,000 $ 5,000 Residual value Useful life 5 years Estimated units machine will 100,000 produce Actual production: Year 1 Year 2 70,000 20,500 Use MACRS table Depreciation Expense Method Year 1 Year 2 Straight line Units of production Declining balance MACRS (5-year class)
A machine with a cost of $140,000 has an estimated residual value of $14,000 and an estimated life of 3 years or 14,000 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 5,800 hours? a.$52,200 b.$5,800 c.$38,200 d.$63,800
A machine with a cost of $120,000 has an estimated residual value of $15,000 and an estimated life of 3 years or 15,000 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 6,200 hours? a. $55,800 b. $6,200 c. $43,400 d. $28,400
A machine with a cost of $69,500 has an estimated residual value of $3,853 and an estimated life of 5 years or 17,789 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method? a. $13,900 b. $27,800 c. $26,259 d. $16,680
a.A three-year-old machine has a cost of $50,000, an estimated residual value of $5,000, and an estimated useful life of five years. The company uses straight-line depreciation.Calculate the net book value at the end of the third year.b.A three-year-old machine has a cost of $37,600, an estimated residual value of $2,600, and an estimated useful life of 35,000 machine hours. The company uses units-of-production depreciation and ran the machine 5,200 hours in year 1; 6,150 hours in year 2; and...
Machiel Manufacturing acquired a $60,000 machine on January 1, 2009. The machine is estimated to have a useful life of 4 years, and a residual value of $10,000. For units-of-production depreciation purposes, the machine is expected to produce 500,000 units. If Machiel Manufacturing uses double-declining-balance depreciation, what is the depreciation expense in 2010? Select one: A. $25,000 B. $ 8,640 C. $ 9,600 D. $15,000 E. $12,500
A machine with a cost of $105 000 has an estimated residual value of $5 000 and an estimated life of eight years or 10 000 hours. It is to be depreciated by the units-of-activity method. What is the amount of depreciation for the second full year, during which the machine was used 6 000 hours? $60,000 $75,000 $16,000 $5,000