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tering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for with an estimated...
stering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for so6000. Miles with...
stering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for so6000. Miles with an estimated useful life of 60,000 miles and a residua driven are as follows: $36,000 a truck l value of Year 20X1 20x2 20X3 20x4 20X5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: a. $18,500 b. $26,000 c. $12,500 d. $33,500
On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for $36,000 a truck with an...
On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for $36,000 a truck with an estimated useful life of 60,000 miles and a residual value of $6,000. Miles driven are as follows: Year 20x1 20X2 20x3 20x4 20x5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: Your company uses the DDB method. Assets purchased between the 1st and 15th are depreciated for the entire month; assets purchased after the 15th...
July 1,20x1 Zipco which uses UPO ON OPO for deppeciation n ,pueneses $ 36, 000 a...
July 1,20x1 Zipco which uses UPO ON OPO for deppeciation n ,pueneses $ 36, 000 a truck'with an estimated Useful life af 60, 000 miles and Q REgeaD residul yalive of $6, 000 Miles driven as follows: Miles 5,000 10,000 20,000 25,000 30, 000 Year 20x1 20X2 20X3 20X4 20X5 The book December 31, 20X3 is: value of the truck on a)s18,500 b)$26,000 C) $ 12; 500 6l) $ 33,50
2. O n May 1, 20x1, your a machine with a useful life of 2,520,000 units...
2. O n May 1, 20x1, your a machine with a useful life of 2,520,000 units and a residual value of $10.000. In 20x1. the machine produces 100,000 units; in 20X2, 120,000 units. What is the balance in company, which uses UOP depreciation, purchases for $260,000 Accumulated Depreciation at the end of 20X27 a. $10,912 b. $11,904 c. $21,824 d. $9,920 u get a memo stating your firm uses the following formula to compute epreciation, what depreciation method will you...
Company D started business on January 1, 20X1, and bought the following piece of equipment. Cost...
Company D started business on January 1, 20X1, and bought the following piece of equipment. Cost of asset $300,000 Salvage 30,000 Useful life 5 Tax rate 21% 20X1 estimated tax payment 6,000 Depreciation for book and tax purposes is as follows: Book Tax 20X1 54,000 120,000 20X2 54,000 72,000 20X3 54,000 43,200 20X4 54,000 25,920 20X5 54,000 8,880 What is the ending balance of deferred taxes payable-depreciation on the December 31, 20X3 balance sheet? (You do not need income statement...
tering Depreciation On May 1, 20X1, your company purchases for $260,000 a machine with an estimated...
tering Depreciation On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000. Your company uses SYD depreciation and depreciates assets purchased between the 1st and 15th of the month for the entire month and assets purchased after the 15th as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38,256 c. $36,325 d. $35,256
A firm uses straight line depreciation for fixed assets with an estimated useful life of 12...
A firm uses straight line depreciation for fixed assets with an estimated useful life of 12 years for its financial statements and 8 years for taxable income. ● Equipment is bought for 500 on December 31, 20X0. ● The firm’s corporate income tax payments are 65 in 20X1, 69 in 20X2, and 57 in 20X3. ● In 20X1 and 20X2, the corporate tax rate is expected to be 19% for all years. ● On January 1, 20X3, legislation is enacted that reduces the tax...
1.We purchased a building with a market value of $150,000 for $125,000 cash. The seller paid...
1.We purchased a building with a market value of $150,000 for $125,000 cash. The seller paid $50,000 when they originally purchased the building. What amount is used when we record the purchase of the building? $25,000 $50,000 $125,000 $150,000 2.On July 1, 2017, we purchased a truck for $60,000. The truck has a useful life of 5 years and a residual value of $5,000. The truck is depreciated using the straight-line method. What is the depreciation expense for 2017? $12,000...
tering Depreciation 6 On May 1, 20X1, your company purchases for $260,000 a machine with an...
tering Depreciation 6 On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000 Your company uses SYD depreciation and depreciates assets purchased between the 1 and 15h of the month for the entire month and assets purchased after the 15 as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38256 $36,325 d. $35,256
Part B. Question 1 On 6 September 20Y1, East River Tug Co. purchased a new tugboat for $400,000. The estimated life...
Part B. Question 1 On 6 September 20Y1, East River Tug Co. purchased a new tugboat for $400,000. The estimated life of the boat was 20 years, with an estimated residual value of $40,000 (a) Compute the depreciation on this tugboat in 20Y1 and 20Y2 using the following methods. Apply the half-year convention. (round to the nearest dollar. Show workings. 2041 2042 (1) Straight-line (ii) 200% declining balance (iii) 150% declining balance (b) The estimated total output of the tugboat...
stering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for so6000. Miles with an estimated useful life of 60,000 miles and a residua driven are as follows: $36,000 a truck l value of Year 20X1 20x2 20X3 20x4 20X5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: a. $18,500 b. $26,000 c. $12,500 d. $33,500
On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for $36,000 a truck with an estimated useful life of 60,000 miles and a residual value of $6,000. Miles driven are as follows: Year 20x1 20X2 20x3 20x4 20x5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: Your company uses the DDB method. Assets purchased between the 1st and 15th are depreciated for the entire month; assets purchased after the 15th...
July 1,20x1 Zipco which uses UPO ON OPO for deppeciation n ,pueneses $ 36, 000 a truck'with an estimated Useful life af 60, 000 miles and Q REgeaD residul yalive of $6, 000 Miles driven as follows: Miles 5,000 10,000 20,000 25,000 30, 000 Year 20x1 20X2 20X3 20X4 20X5 The book December 31, 20X3 is: value of the truck on a)s18,500 b)$26,000 C) $ 12; 500 6l) $ 33,50
2. O n May 1, 20x1, your a machine with a useful life of 2,520,000 units and a residual value of $10.000. In 20x1. the machine produces 100,000 units; in 20X2, 120,000 units. What is the balance in company, which uses UOP depreciation, purchases for $260,000 Accumulated Depreciation at the end of 20X27 a. $10,912 b. $11,904 c. $21,824 d. $9,920 u get a memo stating your firm uses the following formula to compute epreciation, what depreciation method will you...
tering Depreciation On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000. Your company uses SYD depreciation and depreciates assets purchased between the 1st and 15th of the month for the entire month and assets purchased after the 15th as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38,256 c. $36,325 d. $35,256
tering Depreciation 6 On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000 Your company uses SYD depreciation and depreciates assets purchased between the 1 and 15h of the month for the entire month and assets purchased after the 15 as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38256 $36,325 d. $35,256
Part B. Question 1 On 6 September 20Y1, East River Tug Co. purchased a new tugboat for $400,000. The estimated life of the boat was 20 years, with an estimated residual value of $40,000 (a) Compute the depreciation on this tugboat in 20Y1 and 20Y2 using the following methods. Apply the half-year convention. (round to the nearest dollar. Show workings. 2041 2042 (1) Straight-line (ii) 200% declining balance (iii) 150% declining balance (b) The estimated total output of the tugboat...
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