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A Php 110,000 chemical plant had an estimated life of 6 years and a projected scrap...
valuate each given using the indicated method and show complete computations. 1. A P110,000 chemical plant...
valuate each given using the indicated method and show complete computations. 1. A P110,000 chemical plant had an estimated life of 6 years and a projected scrap value of P10,000. After 3 years of operation, an explosion made it a total loss. How much money would have to be raised to put up a new plant costing P150,000, if depreciation reserve was maintained during its 3 years operation by (a) straight line method and (b) declining balance method. Money is...
An equipment costing P250,000 has an estimated life of 15 years with a book value of P30,000 at the end of the period
An equipment costing P250,000 has an estimated life of 15 years with a book value of P30,000 at the end of the period. Compute the depreciation charge and its book value after 10 years using straight-line method. Ans. P24,336.26An equipment costing P250,000 has an estimated life of 15 years with a book value of P30,000 at the end of the period. Compute the depreciation charge and its book value after 10 years using sinking fund...
A machine originally had an estimated service life of 5 years, and after 3 years, it...
A machine originally had an estimated service life of 5 years, and after 3 years, it was decided that the original estimate should have been for 10 years. The remaining cost to be depreciated should be allocated over the next Multiple Choice 5 years 6 years 10 years 7 years 2 years Creek Construction owned a bulldozer which was destroyed by fire. The bulldozer originally cost $38,000. The accumulated depreciation recorded to the date of loss was $20,000. The proceeds...
ILLUSTRATIVE PROBLEM 4: 4.) In 1992, Silicon Chemical Company purchased a special purpose machine that had...
ILLUSTRATIVE PROBLEM 4: 4.) In 1992, Silicon Chemical Company purchased a special purpose machine that had a fair price of $120,000. This new machine is expected to produce 100,000 units throughout its estimated useful life of 10 years. Up to the end of the third year it had produced 45,000 units and during the fourth year it produced 15,000 units. If the estimated market value is $12,000 at the end of 10 years, compute for the depreciation amount in the...
28) When originally purchased, a vehicle costing $26.460 had an estimated useful life of 8 years...
28) When originally purchased, a vehicle costing $26.460 had an estimated useful life of 8 years and an estimated salvage value of $3500. 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: A) S3038.00. B) $11,480.00. C) $5908.00. D) $5740.00 E) $2870.00. 29) Lima Enterprises purchased a depreciable asset for $29.000 on...
When originally purchased, a vehicle costing $24,120 had an estimated useful life of 8 years and...
When originally purchased, a vehicle costing $24,120 had an estimated useful life of 8 years and an estimated salvage value of $2,200. 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: $5,480.00 $2,908.00. $2.740.00 $10.960.00 $5,648.00. Torino Company has 2.300 shares of $20 par value, 7.5% cumulative and nonparticipating preferred stock...
On January 2, 2016 McNally's Extra Corporation acquired equipment for $120,000. The estimated life of the...
On January 2, 2016 McNally's Extra Corporation acquired equipment for $120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. If McNally's Extra Corporation uses the straight-line method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2017, during which period the asset was used 4,500 hours? O A. $20,000 OB. $22,500 O C. $24,000 OD. $27,000 Rhoundakona Corporation bought property, plant, and equipment...
solution and answer to all the posted problems complete solution DEPRECIATION AND DEPLETTON 5. Board, September...
solution and answer to all the posted problems
complete solution
DEPRECIATION AND DEPLETTON 5. Board, September 192 was bought for po 30.000 six years ago. It will p.06 (N. . um truck value of 3.000 four years from now. It 15 P8,000. What is the sunk cost1f the deprecia e salvage ad now for Pe method used is: straight-Line method? sinking fund method at 612 Sink 07 (N.E. Board television co It is estin yours scrap val, working hours of...
solution and answer to all the posted problems complete solution 186 p7-06 N. A dump ap 15 years was replaced The...
solution and answer to all the posted problems
complete solution
186 p7-06 N. A dump ap 15 years was replaced The equip sold now tion met a) DEPRECIATION AND DEPLETION 7-20 SUPPLEMENTARY PROBLEMS 27-01 (RCE Board, August 1975) You are planning to sell your electronic manufact originally costing P250,000 when it was put 1 Some equipment originally costing F10,000 was e years ago with new equipment Couting 715,000. installed 10 years ago has now depreciated by 27.5 depreciation of the...
Computer equipment (office equipment) purchased 6½ years ago for $170,000, with an estimated life of eight...
Computer equipment (office equipment) purchased 6½ years ago for $170,000, with an estimated life of eight years and a residual value of $10,000, is now sold for $60,000 cash. (Appropriate entries for depreciation had been made for the first six years of use.) Journalize the following entries: a. Record the depreciation for the one-half year prior to the sale, using the straight-line method. b. Record the sale of the equipment. If an amount box does not require an entry, leave...
valuate each given using the indicated method and show complete computations. 1. A P110,000 chemical plant had an estimated life of 6 years and a projected scrap value of P10,000. After 3 years of operation, an explosion made it a total loss. How much money would have to be raised to put up a new plant costing P150,000, if depreciation reserve was maintained during its 3 years operation by (a) straight line method and (b) declining balance method. Money is...
ILLUSTRATIVE PROBLEM 4: 4.) In 1992, Silicon Chemical Company purchased a special purpose machine that had a fair price of $120,000. This new machine is expected to produce 100,000 units throughout its estimated useful life of 10 years. Up to the end of the third year it had produced 45,000 units and during the fourth year it produced 15,000 units. If the estimated market value is $12,000 at the end of 10 years, compute for the depreciation amount in the...
28) When originally purchased, a vehicle costing $26.460 had an estimated useful life of 8 years and an estimated salvage value of $3500. 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: A) S3038.00. B) $11,480.00. C) $5908.00. D) $5740.00 E) $2870.00. 29) Lima Enterprises purchased a depreciable asset for $29.000 on...
When originally purchased, a vehicle costing $24,120 had an estimated useful life of 8 years and an estimated salvage value of $2,200. 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: $5,480.00 $2,908.00. $2.740.00 $10.960.00 $5,648.00. Torino Company has 2.300 shares of $20 par value, 7.5% cumulative and nonparticipating preferred stock...
On January 2, 2016 McNally's Extra Corporation acquired equipment for $120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. If McNally's Extra Corporation uses the straight-line method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2017, during which period the asset was used 4,500 hours? O A. $20,000 OB. $22,500 O C. $24,000 OD. $27,000 Rhoundakona Corporation bought property, plant, and equipment...
solution and answer to all the posted problems
complete solution
DEPRECIATION AND DEPLETTON 5. Board, September 192 was bought for po 30.000 six years ago. It will p.06 (N. . um truck value of 3.000 four years from now. It 15 P8,000. What is the sunk cost1f the deprecia e salvage ad now for Pe method used is: straight-Line method? sinking fund method at 612 Sink 07 (N.E. Board television co It is estin yours scrap val, working hours of...
solution and answer to all the posted problems
complete solution
186 p7-06 N. A dump ap 15 years was replaced The equip sold now tion met a) DEPRECIATION AND DEPLETION 7-20 SUPPLEMENTARY PROBLEMS 27-01 (RCE Board, August 1975) You are planning to sell your electronic manufact originally costing P250,000 when it was put 1 Some equipment originally costing F10,000 was e years ago with new equipment Couting 715,000. installed 10 years ago has now depreciated by 27.5 depreciation of the...
Computer equipment (office equipment) purchased 6½ years ago for $170,000, with an estimated life of eight years and a residual value of $10,000, is now sold for $60,000 cash. (Appropriate entries for depreciation had been made for the first six years of use.) Journalize the following entries: a. Record the depreciation for the one-half year prior to the sale, using the straight-line method. b. Record the sale of the equipment. If an amount box does not require an entry, leave...
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