Marlow Company purchased a point of sale system on January 1 for $3,400. This system has...
Marlow Company purchased a point of sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would be the depreciation expense for the second year of its useful life using the double declining balance method?
Homework Answers
Calculation of annual depreciation rate:
Annual depreciation rate= 100%/number of years= 100%/10= 10%
Double declining rate= 10*2= 20%
Depreciation for year 1= 3400*0.20= 680
Depreciation for year 2= (3400-680)*0.20= 544
Depreciation expense for the second year is $544
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Marlow Company purchased a point of sale system on January 1 for
$3,400. This system has...
Marlow Company purchased a point of sale system on January 1 for $3,400. This system has...
Marlow Company purchased a point of sale system on January 1 for $3,400. This system has a useful life of 10 years and a salvage value of $400. What would be the accumulated depreciation at the end of the second year of its useful life using the double-declining-balance method? 2,176 $600 $1,224 $1,200 $544
Marlow Company purchased a point of sale system on January 1 for $7100. The system has...
Marlow Company purchased a point of sale system on January 1 for $7100. The system has a useful life for 5 years and a salvage value of $1250. What would be the depreciation expense for the second year of its useful life using the double-declining-balanced method? A $2340 B $2840 C $1704 D $1640 E $19,550
Marlow Company purchased a point of sale system on January 1 for $5.600 This system has...
Marlow Company purchased a point of sale system on January 1 for $5.600 This system has a useful We of 4 years and a salvage value of $500 What would be the depreciation expense for the second year of its useful life using the double-declining balance method? Munge Choice O $2.550 0 O $275 O 5.00 0 $1336 0 O $2.800
Help Save & Exit Submit Submit Marlow Company purchased a point of sale system on January...
Help Save & Exit Submit Submit Marlow Company purchased a point of sale system on January 1 for $7,000. This system has a useful life of 5 years and a salvage value of $1,200. What would be the depreciation expense for the second year of its useful life using the double-declining balance method? 3:12 Multiple Choice $2,320 O $2,800 $1680 $460 O $1615
Question 8 (1 point) Saved The Company purchased a machine on January 1st for $693,922. The...
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Novak Company purchased machinery on
January 1, 2017, for $97,600. The machinery is estimated to have a
salvage value of $9,760 after a useful life of 8 years. Compute
2017 depreciation expense using the double-declining-balance
method. Depreciation expense $ LINK TO TEXT Compute 2017
depreciation expense using the double-declining-balance method,
assuming the machinery was purchased on October 1, 2017. (Round
answer to 0 decimal places, e.g. 5,125.) Depreciation expense $
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22. A company purchased factory equipment on January 1, 2018 for $200,000. It is estimated that...
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Unit 2 11-4 Splish Company purchased machinery on January 1, 2017, for $96,800. The machinery is...
Unit 2 11-4
Splish Company purchased machinery on January 1, 2017, for
$96,800. The machinery is estimated to have a salvage value of
$9,680 after a useful life of 8 years.
Compute 2017 depreciation expense using the
double-declining-balance method.
Depreciation expense
$
Compute 2017 depreciation expense using the
double-declining-balance method, assuming the machinery was
purchased on October 1, 2017. (Round answer to 0
decimal places, e.g. 5,125.)
Depreciation expense
$
Equipment was purchased for $301000. Freight charges amounted to $14900 and there was a cost of $40500 for bui...
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Marlow Company purchased a point of sale system on January 1 for $5.600 This system has a useful We of 4 years and a salvage value of $500 What would be the depreciation expense for the second year of its useful life using the double-declining balance method? Munge Choice O $2.550 0 O $275 O 5.00 0 $1336 0 O $2.800
Help Save & Exit Submit Submit Marlow Company purchased a point of sale system on January 1 for $7,000. This system has a useful life of 5 years and a salvage value of $1,200. What would be the depreciation expense for the second year of its useful life using the double-declining balance method? 3:12 Multiple Choice $2,320 O $2,800 $1680 $460 O $1615
Question 8 (1 point) Saved The Company purchased a machine on January 1st for $693,922. The machine has an expected useful life of 8 years and an expected salvage value of $94,153. The company expects to produce 3,601 units in the first year of use and 8,469 over the life of the machine. Please calculate the depreciation expense that the company will record in the first year using the units-of-production method of depreciation. Your Answer: 49.69 Answer Question 9 (1...
Novak Company purchased machinery on
January 1, 2017, for $97,600. The machinery is estimated to have a
salvage value of $9,760 after a useful life of 8 years. Compute
2017 depreciation expense using the double-declining-balance
method. Depreciation expense $ LINK TO TEXT Compute 2017
depreciation expense using the double-declining-balance method,
assuming the machinery was purchased on October 1, 2017. (Round
answer to 0 decimal places, e.g. 5,125.) Depreciation expense $
Click if you would like to Show Work for this...
22. A company purchased factory equipment on January 1, 2018 for $200,000. It is estimated that the equipment will have a $20,000 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, 2018 is a. $20,000 b. $18,000. c. $16,000. d. $14,000. 23. A company purchased factory equinment for $700,000. It is estimated that the equipment will have a $70,000 salvage value at...
Unit 2 11-4
Splish Company purchased machinery on January 1, 2017, for
$96,800. The machinery is estimated to have a salvage value of
$9,680 after a useful life of 8 years.
Compute 2017 depreciation expense using the
double-declining-balance method.
Depreciation expense
$
Compute 2017 depreciation expense using the
double-declining-balance method, assuming the machinery was
purchased on October 1, 2017. (Round answer to 0
decimal places, e.g. 5,125.)
Depreciation expense
$
Equipment was purchased for $301000. Freight charges amounted to $14900 and there was a cost of $40500 for building a foundation and installing the equipment. It is estimated that the equipment will have a $59800 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be $59320 $48240 $71280 $49120 A company purchased office equipment for $36000 and estimated a salvage value of $8000 at the end of its 20-year useful...
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