Annual depreciation expense=(Cost-Residual value)/Useful Life
=(77,500-7950)/5=$13910/year
Hence depreciation expense for 2021
=$13910
Kansas Enterprises purchased equipment for $77,500 on January 1, 2021. The equipment is expected to have...
Kansas Enterprises purchased equipment for $77,500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $7,800 at the end of five years. Using the double-declining balance method, depreciation expense for 2022 would be: (Do not round your intermediate calculations) Multiple Cholce $16,728. $27,880. $31,000. $18,600.
1) Kansas Enterprises purchased equipment for $79,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $6,900 at the end of five years. Using the straight-line method, depreciation expense for 2021 would be: 2) Kansas Enterprises purchased equipment for $80,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $6,450 at the end of ten years. Using the straight-line method,...
Kansas Enterprises purchased equipment for $78,500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $6,600 at the end of five years. Using the double-declining balance method, depreciation expense for 2021 would be: (Do not round your intermediate calculations) 1 Multiple Choice 0 $15,700. 0 $24,800. 0 $28,760. $28,760. 0 $31,400.
Kansas Enterprises purchased equipment for $74,000 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $6,300 at the end of ten years. Using the straight-line method, the book value at December 31, 2021, would be: Multiple Choice $67,230. 0 $67,700. 0 $66,600. 0 $60,930.
Kansas Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $8,100 at the end of five years. Using the double-declining balance method, depreciation expense for 2021 would be: Can anyone show me how you get this answer (Show work)
Cutter Enterprises purchased equipment for $87,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,300 Using the straight-line method, depreciation for 2021 would be: Multiple Choice o $16740. o sm, 400 o S87.000. o None of the other answer choices are correct
Cutter Enterprises purchased equipment for $60,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $7,500. Using the straight-line method, depreciation for 2021 would be:
Kansas Enterprises purchased equipment for $60,000 on January 1, 2018. The equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years. Using the double-declining balance method, depreciation expense for 2019 would be: Select one or more: a. $13,200. b. $22,000. c. $14,400 d. $24,000.
Smpted investime Financial Accounting Spring 2020 2101000K Section Out Kansas Enterprises purchased equipment for $78,000 on January 1 2021 The equipment is expected to have a ten year service life, with a residual value of $7.200 at the end of ten years Using the straight-line method, depreciation expense for 2022 and the book value at December 31, 2022 would be: Multiple Choice O $7000 and $56.640 O 7800 and $62.400 O $700 and 55.200 O $7080 and $63.840.
Kansas Enterprises purchased equipment for $75,000 on January 1,2018. The equipment is expected to have a five-year life, with a residual value of $6,750 at the end of five years Using the double-declining balance method, depreclation expense for 2018 would be (Do not round your intermediate calculations) O $30,000 O $23.250. O $15,000 O $27.300.