Cutter Enterprises purchased equipment for $51,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $51,000 on January 1,
2018. The equipment is expected to have a five-year life and a
residual value of $4,500.
Using the double-declining balance method, depreciation for 2018
and the book value at December 31, 2018, would be:
Multiple Choice
-
$18,600 and $32,400 respectively.
-
$20,400 and $30,600 respectively.
-
$20,400 and $26,100 respectively.
-
$18,600 and $27,900 respectively.
Homework Answers
B. $20,400 and $30,600 respectively.
Double-declining rate = (100%/5) × 2 = 40%
Depreciation for 2018 = $51,000 × 40% = $20,400
Book value at December 31, 2018 = $51,000 - $20,400 = $30,600
Add Answer to:
Cutter Enterprises purchased equipment for $51,000 on January 1,
2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $3,600. Using the double-declining balance method, depreciation for 2018 and the book value at December 31, 2018, would be: A.$17,760 and $26,640 respectively. B.$19,200 and $28,800 respectively. C. $19,200 and $25,200 respectively. D.$17,760 and $30,240 respectively.
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $8,700. Using the double-declining balance method, depreciation for 2019 would be: Multiple Choice $19,200. $9,432. $11,520. None of these answer choices are correct.
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,600. Using the double-declining balance method, depreciation for 2018 and the book value at December 31, 2018, would be:
Cutter Enterprises purchased equipment for $84,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $84,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $8,700. Using the sum-of-the-years'-digits method, depreciation for 2018 and book value at December 31, 2018, would be: (Do not round depreciation rate per year) Multiple Choice $28,000 and $56,000 respectively. $28,000 and $47,300 respectively. $25,100 and $50,200 respectively. $25,100 and $58,900 respectively.
Cutter Enterprises purchased equipment for $66,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $66,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $8,700. Using the straight-line method, depreciation for 2019 and the equipment's book value at December 31, 2019, would be: Multiple Choice $11,460 and $34,380 respectively. $11,460 and $43,080 respectively. $13,200 and $52,800 respectively. $26,400 and $39,600 respectively.
Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have...
Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000. Using the sum-of-the-years'-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round depreciation rate per year) Multiple Choice $19,200 and $30,800 respectively. $17,600 and $26,400 respectively. $19,200 and $28,800 respectively. $17,600 and $32,400 respectively.
Cutter Enterprises purchased equipment for $84,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $84,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,300. Using the double-declining balance method, the book value at December 31, 2019, would be:
23 Cutter Enterprises purchased equipment for $81,000 on January 1, 2018. The equipment is expected to...
23 Cutter Enterprises purchased equipment for $81,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $7,800. Using the sum-of-the-years'-digits method, depreciation for 2018 and book value at December 31, 2018, would be: (Do not round depreciation rate per year) Multiple Choice $24,400 and $56,600 respectively. $24,400 and $48,800 respectively. o $27,000 and $54,000 respectively. o $27,000 and $46,200 respectively. o
Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. The equipment is expected to have...
Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $6,900. Using the sum-of-the-years'-digits method, depreciation for 2017 and book value at December 31, 2017, would be (Do not round depreciation rate per year): Multiple Choice 0 $20,560 and $37,740. $22,400 and $33,600. o o $20,560 and $30,840. $22,400 and $26,700.
Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. The equipment is expected to have...
Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $6,300. Using the sum-of-the-years-digits method, depreciation for 2017 and book value at December 31, 2017, would be (Do not round depreciation rate per year): Multiple Choice O $22,400 and $27,300. O $20,720 and $37,380. O $20,720 and $31,080. O $22,400 and $33,600.
23 Cutter Enterprises purchased equipment for $81,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $7,800. Using the sum-of-the-years'-digits method, depreciation for 2018 and book value at December 31, 2018, would be: (Do not round depreciation rate per year) Multiple Choice $24,400 and $56,600 respectively. $24,400 and $48,800 respectively. o $27,000 and $54,000 respectively. o $27,000 and $46,200 respectively. o
Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $6,900. Using the sum-of-the-years'-digits method, depreciation for 2017 and book value at December 31, 2017, would be (Do not round depreciation rate per year): Multiple Choice 0 $20,560 and $37,740. $22,400 and $33,600. o o $20,560 and $30,840. $22,400 and $26,700.
Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $6,300. Using the sum-of-the-years-digits method, depreciation for 2017 and book value at December 31, 2017, would be (Do not round depreciation rate per year): Multiple Choice O $22,400 and $27,300. O $20,720 and $37,380. O $20,720 and $31,080. O $22,400 and $33,600.
Most questions answered within 3 hours.
-
Identify one individual who, in your opinion, is an excellent
leader. List the qualities that this...
asked 53 seconds from now -
MAN3240 Organizational Behavior
In one to two paragraphs
6.) How can understanding emotions make me more...
asked 1 minute ago -
For the data set shown below, complete parts (a) through (d)
below. x 3 4 5...
asked 5 minutes ago -
A university administrator working in student housing wants to
determine if the percentage of students residing...
asked 19 minutes ago -
3). Describe human population growth that has occurred in the
past 400 years. Use terms learned...
asked 16 minutes ago -
A
projectile is blue at a target. The distance from the point of
impact to the...
asked 40 minutes ago -
Given a 32 bit processor, with 2 MB of physical RAM split into 512
frames. What...
asked 30 minutes ago -
What were the main rulings in the Supreme Court cases which are
Morgan v. Virginia (1946)...
asked 30 minutes ago -
write a five paragraph essay on how setting,
specifically culture, influences the actions of
the characters...
asked 22 minutes ago -
JAVA
Provide a simple code sample of Merge sort
asked 32 minutes ago -
Discounting cash flows involves:
A. taking the cash discount offered on a trade merchandise
B. estimating...
asked 40 minutes ago -
A solid wood door 1.00 m wide and 2.00 m high is hinged along
one side...
asked 40 minutes ago