Depreciation using Straight-Line Method = (Original Cost - Residual Value) / Useful life
= ($800,000 - $10,000) / 5
= $158,000 per year
Total Accumulated Depreciation on December 31, 2020 = $158,000 * 2 = $316,00
So, Answer is $316,000
Need help On January 2, 2019, Kaiman Corporation acquired equipment for $800,000. The estimated life of...
On January 2, 2019, Kaiman Corporation acquired equipment for $800,000. The estimated life of the equipment is 5 years or 100,000 hours. The estimated residual value is $50,000. What is the balance in Accumulated Depreciation on December 31, 2020, if Kaiman Corporation uses the straight-line method of depreciation? O A. $160,000 O B. $320,000 O c. $150,000 OD. $300,000
On January 2, 2019, Kornis Corporation acquired equipment for $ 800,000. The estimated life of the equipment is 5 years or 60,000 hours. The estimated residual value is $ 40,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporation uses the double-declining-balance method of depreciation? A. $160,000 B. $320,000 C. $152,000 D. $304,000
On January 2, 2019, Kaiman Corporation acquired equipment for $300 000. The estimated life of the equipment is 5 years or 100,000 hours. The estimated residual value is $10,000. What is the balance in Accumulated Depreciation on December 31, 2020, if Kaiman Corporation uses the straight-line method of depreciation? O A. $60.000 OB. 558,000 OC. $120,000 OD. 5116,000
On January 2, 2019, Konrad Corporation acquired equipment for $800,000. The estimated life of the equipment is 5 years or 31,000 hours. The estimated residual value is $25,000. If Konrad Corporation uses the units of production method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2020, assuming that during this period, the asset was used 10,000 hours?
Question Help On January 4, 2019. Mary's Cafe acquired equipment for $200,000. The estimated life of the equipment is 8 years or 60,000 hours. The estimated residual value is $10,000. What is the balance in the Accumulated Depreciation account at December 31, 2020 if the straight-line method is used? O A. $10,000 OB. $47.500 OC. $23,750 OD. $25.000
2. On January 2, 2019, Kornis Corporation acquired equipment for $300,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $50,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporation uses the double−declining−balance method ofdepreciation? A.$120,000 B. $60,000 C.$50,000 D.$100,000 3. On January 2, 2019, Konrad Corporation acquired equipment for $760,000. The estimated life of the equipment is 5 years or 37,000 hours. The estimated residual value...
On January 2, 2019, Kornis Corporation acquired equipment for $1,000,000. The estimated life of the equipment is 5 years or 70,000 hours. The estimated residual value is $40,000. What is the balance in Accumulated Depreciation on December 31, 2019, if kornis Corporation uses the double-declining - balance method of depreciation? O A. $200,000 O B. $192,000 OC. $400,000 OD. $384,000
On January 2, 2019, Kornis Corporation acquired equipment for $1,100,000. The estimated life of the equipment is 5 years or 100,000 hours. The estimated residual value is $10,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporation uses the double - declining - balance method of depreciation? O A. $218,000 O B. $436,000 OC. $220,000 O D. $440,000
On January 2, 2019, Kornis Corporation acquired equipment for $1,100,000. The estimated life of the equipment is 5 years or 100,000 hours. The estimated residual value is $10,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporation uses the double - declining - balance method of depreciation? O A. $218,000 O B. $436,000 OC. $220,000 O D. $440,000
On January 2, 2019, Konrad Corporation acquired equipment for $600,000. The estimated life of the equipment is 5 years or 37,000 hours. The estimated residual value is $8,000. If Konrad Corporation uses the units of production method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2020, assuming that during this period, the asset was used 7,000 hours? O A. $113,514 OB. $115,027 OC. $118,400 O D. $112,000