Homework Answers
Annual depreciation=(Cost-Salvage value)/Useful Life
=(27000-2040)/4=$6240 per year
Hence depreciation expense at December 31,2019=6240*(2/12)(Period from October 31,2019-December 31,2019)
=$1040
Add Answer to:
Equipment costing $27,000 with an estimated salvage value of $2,040 and an estimated life of 4...
Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4...
Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4 years was purchased on October 31, 2019. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 2019?
Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4 years was purchased on Oc...
Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4 years was purchased on October 31, 2019. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 2019?
On January 1, Able Company purchased equipment costing $142,800 with an estimated salvage value of $14,400,...
On January 1, Able Company purchased equipment costing $142,800 with an estimated salvage value of $14,400, and an estimated useful life of five years. Using the straight- line method, what is the amount that should be recorded as depreciation on December 312 Multiple Choice O $142,800 O $25,580 O $14,400 $28,560 O $31.440 A company had service revenue of $253,000, rent expense of $10,300, utility expense of $3,800, salary expense of $18,800, depreciation expense of $9,300, advertising expense of $4,530,...
A company purchased factory equipment on April 1, 2022 for $159500. It is estimated that the equipment will hav...
A company purchased factory equipment on April 1, 2022 for $159500. It is estimated that the equipment will have a $15500 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation the amount to be recorded as depreciation expense at December 31, 2022 is 515950 $14400. $10800 511953 Multiple Choice Question 109 On January 1. a machine with a useful life of four years and a salvage value of $15000 was purchased for $120000....
equipment costing $110000 with a salvage value of $15000 and an estimated life of 8 years...
equipment costing $110000 with a salvage value of $15000 and
an estimated life of 8 years has been
Kimmel, Accounting, 6e 134 Equipment costing $110000 with a salvage value of $15000 and an estimated life of 8 years has been depreciated using the straight-line rounde d) tor Years, Assurming a revised estimated total life of 6 years and no change in the salvage value, the depreciation expense $15833. $23750. O $11875. Open Show Work Click if you would like to...
Question 4 A company purchased factory equipment on April 1, 2022 for $128,000. It is est...
Question 4 A company purchased factory equipment on April 1, 2022 for $128,000. It is est salvage value at the end of its 10-year useful life. Using the straight-line method depreciation expense at December 31, 2022 is $9.600. O $11,200. $8,400. O $12,800. IIBA Question 4 A company purchased factory equipment on April 1, 2022 for $128,000. It is estimated tha salvage value at the end of its 10-year useful life. Using the straight-line method of depreci depreciation expense at...
When originally purchased, a vehicle costing $25,380 had an estimated useful life of 8 years and...
When originally purchased, a vehicle costing $25,380 had an estimated useful life of 8 years and an estimated salvage value of $2,900. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage value. The depreciation expense in year 5 equals: Multiple Choice О 35788.00. o o O sa978 008 o o $5,620.00
A company purchased factory equipment on April 1, 2022 for $142600. It is estimated that the...
A company purchased factory equipment on April 1, 2022 for $142600. It is estimated that the equipment will have a $13000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2022 $10695 $12960 $14250 59720
On June 1, a machine costing $660,000 with a 5-year life and an estimated $50,000 salvage...
On June 1, a machine costing $660,000 with a 5-year life and an
estimated $50,000 salvage value was purchased. It was also
estimated that the machine would produce 200,000 units during its
life. Actual production would be 40,000 units per year for all five
years.
Using the depreciation template provided, determine the amount
of depreciation expense for the third year under each of the
following assumption
The company uses the double-declining-balance method of
depreciation.
50 Cast Salvage value Depreciable cost...
At the beginning of 2017, Blue Spruce Corp. acquired equipment costing $83,600. It was estimated that...
At the beginning of 2017, Blue Spruce Corp. acquired equipment costing $83,600. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $8,360 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2019 (the third year of the equipment's life), the company's engineers reconsidered their expectations and estimated...
Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4 years was purchased on October 31, 2019. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 2019?
On January 1, Able Company purchased equipment costing $142,800 with an estimated salvage value of $14,400, and an estimated useful life of five years. Using the straight- line method, what is the amount that should be recorded as depreciation on December 312 Multiple Choice O $142,800 O $25,580 O $14,400 $28,560 O $31.440 A company had service revenue of $253,000, rent expense of $10,300, utility expense of $3,800, salary expense of $18,800, depreciation expense of $9,300, advertising expense of $4,530,...
A company purchased factory equipment on April 1, 2022 for $159500. It is estimated that the equipment will have a $15500 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation the amount to be recorded as depreciation expense at December 31, 2022 is 515950 $14400. $10800 511953 Multiple Choice Question 109 On January 1. a machine with a useful life of four years and a salvage value of $15000 was purchased for $120000....
equipment costing $110000 with a salvage value of $15000 and
an estimated life of 8 years has been
Kimmel, Accounting, 6e 134 Equipment costing $110000 with a salvage value of $15000 and an estimated life of 8 years has been depreciated using the straight-line rounde d) tor Years, Assurming a revised estimated total life of 6 years and no change in the salvage value, the depreciation expense $15833. $23750. O $11875. Open Show Work Click if you would like to...
Question 4 A company purchased factory equipment on April 1, 2022 for $128,000. It is est salvage value at the end of its 10-year useful life. Using the straight-line method depreciation expense at December 31, 2022 is $9.600. O $11,200. $8,400. O $12,800. IIBA Question 4 A company purchased factory equipment on April 1, 2022 for $128,000. It is estimated tha salvage value at the end of its 10-year useful life. Using the straight-line method of depreci depreciation expense at...
When originally purchased, a vehicle costing $25,380 had an estimated useful life of 8 years and an estimated salvage value of $2,900. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage value. The depreciation expense in year 5 equals: Multiple Choice О 35788.00. o o O sa978 008 o o $5,620.00
A company purchased factory equipment on April 1, 2022 for $142600. It is estimated that the equipment will have a $13000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2022 $10695 $12960 $14250 59720
On June 1, a machine costing $660,000 with a 5-year life and an
estimated $50,000 salvage value was purchased. It was also
estimated that the machine would produce 200,000 units during its
life. Actual production would be 40,000 units per year for all five
years.
Using the depreciation template provided, determine the amount
of depreciation expense for the third year under each of the
following assumption
The company uses the double-declining-balance method of
depreciation.
50 Cast Salvage value Depreciable cost...
At the beginning of 2017, Blue Spruce Corp. acquired equipment costing $83,600. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $8,360 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2019 (the third year of the equipment's life), the company's engineers reconsidered their expectations and estimated...
Most questions answered within 3 hours.
-
I need to determine the concentration of hydrogen peroxide in a
solution using titrimetric analysis
25...
asked 3 minutes ago -
Your are the Vice-President of operations for a New Orleans food
chain. In the aftermath of...
asked 7 minutes ago -
Create a flowchart and a program; test the program. Program
Requirements.
- There are 10 members...
asked 7 minutes ago -
Which of the following is not a sensory receptor?
a. a hair cell
b. a rod
c. a...
asked 10 minutes ago -
Does the launch speed depend significantly upon the launching
angle? Is it reasonable?
asked 41 minutes ago -
A disc of moment of inertia 3.00 kgm2 is rotating with angular
velocity 2.00 rad/s about...
asked 25 minutes ago -
Hi, can somone help me with this question?
Omega Company reported the following information for the...
asked 31 minutes ago -
WHY SOME PEOPLE DECIDE TO STAY IN THEIR HOMES WHEN AN EXTREME
WEATHER EVENT SURROUNDS THEM.
asked 29 minutes ago -
Which of the following is a financial intermediary?
a mutual fund
the stock market
a U.S....
asked 39 minutes ago -
Completely and thoroughly explain how control charts could be
used by a company that makes eyeglass...
asked 48 minutes ago -
Explain how the equilibrium loanable funds interest rate is
determined? Please draw a picture of what...
asked 49 minutes ago -
Below is the trial balance of Tom’s Tents at 5 April 2018.
£
£
Trading account:...
asked 58 minutes ago