Kansas Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have...
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)
Homework Answers
Depreciation rate = 200/useful life = 200/5
= 40%
Depreciation for 2021
= Cost * Depreciation rate
= 72,000 * 40%
= $28,800
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Kansas Enterprises purchased equipment for $72,000 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...
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...
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...
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 $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 $7,950 at the end of five years. Using the straight-line method, depreciation expense for 2021 would be: Multiple Choice $13,910. $17,090. $31,000. $15,500.
Kansas Enterprises purchased equipment for $60,000 on January 1, 2018. The equipment is expected to have...
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.
Laurel Enterprises purchased equipment for $72,000 on January 1, 2017. The equipment is expected to have...
Laurel Enterprises purchased equipment for $72,000 on January 1, 2017. The equipment is expected to have a five-year life and a residual value of $6,000. Using this information & the double-declining balance method, depreciation expense for 2017 and the net book value at December 31st, 2017 is: a. $26,400 & $36,600 b. $26,400 & $45,600 c. $28,800 & $37,200 d. $28,800 & $43,200 PLEASE SHOW WORK
Kansas Enterprises purchased equipment for $75,000 on January 1,2018. The equipment is expected to have a...
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.
Kansas Enterprises purchased equipment for $60,000 on January 1, 2012. The equipment is expected to have...
Kansas Enterprises purchased equipment for $60,000 on January 1, 2012. 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, the book value at December 31, 2013 would be: A. $21,600 B. $45,600 C. $36,000 D. $24,800
Kansas Enterprises purchased equipment for $74,000 on January 1, 2021. The equipment is expected to have...
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.
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) $19200 and $30, 800 respectively $17.600 and $26.400 respectively $17.600 and $32.400 respectively $19.200 and $28 800 respectively
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.
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 $77,500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $7,950 at the end of five years. Using the straight-line method, depreciation expense for 2021 would be: Multiple Choice $13,910. $17,090. $31,000. $15,500.
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.
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.
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.
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