Question 4 Table 8-3 Machiel Manufacturing acquired a $60,000 machine on January 1, 20X9. The machine...
Question 4 Table 8-3 Machiel Manufacturing acquired a $60,000 machine on January 1, 20X9. The machine is estimated to have a useful life of 4 years, and a residual value of $10,000. For unit depreciation purposes, the machine is expected to produce 500,000 units. Referring to Table 8-3, what is the depreciable value of the machine acquired by Machiel Manufacturing? $50,000 $10,000 $15,000 $60,000 Cannot be determined without additional data
Homework Answers
$50,000
| Depreciable value is the value of asset that is depreciated over its useful life. | ||||
| Depreciable Value | = | Cost | - | Salvage Value |
| = | $ 60,000 | - | $ 10,000 | |
| = | $ 50,000 | |||
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Question 4 Table 8-3 Machiel Manufacturing acquired a $60,000
machine on January 1, 20X9. The machine...
Question 3 Table 8-3 Machiel Manufacturing acquired a $60,000 machine on January 1, 20X9. The machine...
Question 3 Table 8-3 Machiel Manufacturing acquired a $60,000 machine on January 1, 20X9. The machine is estimated to have a useful life of 4 years, and a residual value of $10,000. For unit depreciation purposes, the machine is expected to produce 500,000 units. Referring to Table 8-3, if Machiel Manufacturing uses straight-line depreciation, what is the depreciation expense in 2X11? $12,500 $ 8,000 $ 8,800 $ 7,200 $ 3,686
Question 7 Table 8-2 Vanadia Company acquired a $40,000 machine on January 1, 20X9. The machine...
Question 7 Table 8-2 Vanadia Company acquired a $40,000 machine on January 1, 20X9. The machine is estimated to have a useful life of 5 years, and a residual value of $4,000. For unit depreciation purposes, the machine is expected to produce 500,000 units. Referring to Table 8-2, if Vanadia Company uses unit depreciation, and the company produces 80,000 units in 20X9, what will be the depreciation expense for 20X9? $8,000 $6,400 $8,800 $5,760 $7,200
Machiel Manufacturing acquired a $60,000 machine on January 1, 2009. The machine is estimated to have...
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
Farthing Company acquired a $40,000 machine on January 1, 20X4. The machine is estimated to have...
Farthing Company acquired a $40,000 machine on January 1, 20X4. The machine is estimated to have a useful life of 5 years, and a residual value of $4,000.What is the depreciable value of the machine acquired by Farthing Company? $8,000 cannot be determined without additional data $4,000 $40,000 $36,000
On January 1, 2018, Jordan, Inc. acquired a machine for $1,060,000. The estimated useful life of...
On January 1, 2018, Jordan, Inc. acquired a machine for $1,060,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $60,000. Calculate the depreciation expense per year using the straightminus−line method.
5. A machine was acquired on January 1, 2018, at a cost of $80,000. The machine...
5. A machine was acquired on January 1, 2018, at a cost of $80,000. The machine was originally estimated to have a residual value of $5,000 and an estimated life of 5 years. The machine is expected to produce a total of 100,000 components during its life, as follows: 15,000 in 2018, 20,000 in 2019, 20,000 in 2020, 30,000 in 2021, and 15,000 in 2022. (25 marks) Instructions (a) Calculate the amount of depreciation to be charged each year, using...
5. A machine was acquired on January 1, 2018, at a cost of $80,000. The machine...
5. A machine was acquired on January 1, 2018, at a cost of $80,000. The machine was originally estimated to have a residual value of $5,000 and an estimated life of 5 years. The machine is expected to produce a total of 100,000 components during its life, as follows: 15,000 in 2018, 20,000 in 2019, 20,000 in 2020, 30,000 in 2021, and 15,000 in 2022. (25 marks) Instructions (a) Calculate the amount of depreciation to be charged each year, using...
On January 1, 2015, Swift Corporation, a small manufacturer of machine tools, acquired new indust...
On January 1, 2015, Swift Corporation, a small manufacturer of
machine tools, acquired new industrial equipment for $1,320,000.
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equipment can produce 14,500 machine tools in its first year. It
estimates that production will decline by 1,000 units per year over
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The following depreciation methods may be used: (1) straight-line,
(2) double-declining-balance,...
ABC corp acquired a machine on January 1, 2015 for $240,000. The machine has an estimated...
ABC corp acquired a machine on January 1, 2015 for $240,000. The machine has an estimated useful life of 4 years and a residual value of $40,000. ABC corp used the double-declining balance method of depreciation. What depreciation expense should ABC corp recognize for this machine in 2017?
On January 1, 2017 National Manufacturing purchased a machine for $1,020,000
On January 1, 2017 National Manufacturing purchased a machine for $1,020,000 that it expected to have a useful life of six years. The company estimated that the residual value of the machine was 500,000. National Manufacturing used the machine for two years and sold it on January 1, 2019. for $320,000. As of December 31, 2018, the accumulated depreciation on the machine was $320,000. Read the requirements. .1. Calculate the gain or loss on the sale of the machinery.2. Record the sale...
On January 1, 2015, Swift Corporation, a small manufacturer of
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The new equipment had a useful life of five years and the residual
value was estimated to be $60,000. Swift estimates that the new
equipment can produce 14,500 machine tools in its first year. It
estimates that production will decline by 1,000 units per year over
the equipment’s remaining useful life.
The following depreciation methods may be used: (1) straight-line,
(2) double-declining-balance,...
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