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.
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 $87,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $3.900 15 Using the sum-of-the-years'-digits method, depreciation for 2016 and book value at December 31, 2016, would be (Do not round depreclation rate per year) 012035 Multiple Choice $27700 and $59300 $29,000 and $58,000. $29,000 and $54100 2700 and $55.400
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.
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, 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:
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) $19200 and $30, 800 respectively $17.600 and $26.400 respectively $17.600 and $32.400 respectively $19.200 and $28 800 respectively
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.
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 $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