1- Marigold Company uses the units-of-activity method in computing depreciation. A new plant asset is purchased...
1- Marigold Company uses the units-of-activity method in computing depreciation. A new plant asset is purchased for $42000 that will produce an estimated 100000 units over its useful life. Estimated salvage value at the end of its useful life is $4000. What is the depreciation cost per unit?
2- A petty cash fund of $105 is replenished when the fund
contains $6 in cash and receipts for $96. The entry to replenish
the fund would
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1- Marigold Company uses the units-of-activity method in
computing depreciation. A new plant asset is purchased...
Marigold Company purchased a new plant asset on April 1, 2020, at a cost of $723,000....
Marigold Company purchased a new plant asset on April 1, 2020,
at a cost of $723,000. It was estimated to have a service life of
20 years and a salvage value of $59,400. Marigold’ accounting
period is the calendar year.
Compute the depreciation for this asset for 2020 and 2021 using
the sum-of-the-years'-digits method. (Round answers to
0 decimal places, e.g. 45,892.)
Depreciation for 2020
$enter a dollar Amountt
Depreciation for 2021
Compute the depreciation for this asset for 2020...
Marigold Corp. purchased a depreciable asset for $710000. The estimated salvage value is $40000, and the...
Marigold Corp. purchased a depreciable asset for $710000. The estimated salvage value is $40000, and the estimated useful life is 10 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? $142000 $106100 $67000 $113600 CUEIL ALCHEMO The term "depreciable base," or "depreciation base," as it is used in accounting, refers to O the cost of the asset less the related depreciation recorded to date. the total amount...
Equipment was purchased for $301000. Freight charges amounted to $14900 and there was a cost of $40500 for bui...
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...
Computing Depreciation, Asset Book Value, and Gain or Loss on Asset Sale Sloan Company uses its...
Computing Depreciation, Asset Book Value, and Gain or Loss on Asset Sale Sloan Company uses its own executive charter plane that originally cost $800,000. It has recorded straight line depreciation on the plane for six full years, with a $80,000 expected salvage value at the end of its estimated 10 year useful life. Sloan disposes of the plane at the end of the sixth year a. At the disposal date, what is the (1) accumulated depreciation and (2) net book...
Computing Depreciation, Asset Book Value, and Gain or Loss on Asset Sale Palepu Company owns and...
Computing Depreciation, Asset Book Value, and Gain or Loss on Asset Sale Palepu Company owns and operates a delivery van that originally cost $27,200. Straight-line depreciation on the van has been recorded for three years, with a $2,000 expected salvage value at the end of its estimated six-year useful life. Depreciation was last recorded at the end of the third year, at which time Palepu disposes of this van. a. Compute the net book value of the van on the...
Question 11 A plant asset was purchased on January 1 for $40,000 with an estimated salvage...
Question 11 A plant asset was purchased on January 1 for $40,000 with an estimated salvage value of $8,000 at the end of its useful life. The current year's depreciation expense is $4,000 calculated on the straight-line basis and the balance in the Accumulated Depreciation account at the end of the year is $20,000. The remaining useful life of the plant asset is O 10 years. 8 years. 3 years. O 5 years.
pina coloda taxi service uses the units of activity method in computing depreciation on its taxicabs....
pina coloda taxi service uses the units of activity method in computing depreciation on its taxicabs. each cab is expected to be driven 153,000 miles. taxi no. 10 cost $63,200 and is expected to have a salvage value of $2000. Taxi no. 10 is driven 35,300 miles in year 1 and 20,400 miles in a year 2. calculate depreciation coat per mile using unit of activity method compute the depreciation for each year 1 and year 2
Marigold Company purchased a new van for floral deliveries on January 1, 2020. The van cost...
Marigold Company purchased a new van for floral deliveries on January 1, 2020. The van cost $47000 with an estimated life of 5 years and $14200 salvage value at the end of its useful life. The double declining-balance method of depreciation will be used. What is the depreciation expense for 2020? $13120 $18800 $9400 $6560 Attempts: 0 of 1 used Submit Answer forlater
Heatherbrae Co. uses the units-of-prodyction method to estimate depreciation. The company purchased a new machine for...
Heatherbrae Co. uses the units-of-prodyction method to estimate depreciation. The company purchased a new machine for $40,000 that will produce an estimated 250,000 units over its useful ife. The estimated residual value of the machine is $4,000. What is the depreciation rate per unit? Multiple Choice $1.16 $1.14 $0.16 $014 5 of 7 Score answer> <Prev
Depreciation Schedules Barb's Florists Name: Units Table $ SI Purchased new truck Jan 1, 2012 Sold...
Depreciation Schedules Barb's Florists Name: Units Table $ SI Purchased new truck Jan 1, 2012 Sold Dec 31, 2013 for $7.500 Accounts Expected value Estimated nule in years Estimated useful life in miles 100.000 Extra Credit Complete A, B, C, D 50 7.5 minutes C: Journalize Purchase and DDB Depreciation: Generalural Notestateulations Intreti rmia >> A Prepare the straight line depreciation tabl Straight line Der's Degree Exp Acum JE Purchase for cash: Dale of Purchase Life years Dacation Rate Cost...
Marigold Company purchased a new plant asset on April 1, 2020,
at a cost of $723,000. It was estimated to have a service life of
20 years and a salvage value of $59,400. Marigold’ accounting
period is the calendar year.
Compute the depreciation for this asset for 2020 and 2021 using
the sum-of-the-years'-digits method. (Round answers to
0 decimal places, e.g. 45,892.)
Depreciation for 2020
$enter a dollar Amountt
Depreciation for 2021
Compute the depreciation for this asset for 2020...
Marigold Corp. purchased a depreciable asset for $710000. The estimated salvage value is $40000, and the estimated useful life is 10 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset? $142000 $106100 $67000 $113600 CUEIL ALCHEMO The term "depreciable base," or "depreciation base," as it is used in accounting, refers to O the cost of the asset less the related depreciation recorded to date. the total amount...
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...
Computing Depreciation, Asset Book Value, and Gain or Loss on Asset Sale Sloan Company uses its own executive charter plane that originally cost $800,000. It has recorded straight line depreciation on the plane for six full years, with a $80,000 expected salvage value at the end of its estimated 10 year useful life. Sloan disposes of the plane at the end of the sixth year a. At the disposal date, what is the (1) accumulated depreciation and (2) net book...
Computing Depreciation, Asset Book Value, and Gain or Loss on Asset Sale Palepu Company owns and operates a delivery van that originally cost $27,200. Straight-line depreciation on the van has been recorded for three years, with a $2,000 expected salvage value at the end of its estimated six-year useful life. Depreciation was last recorded at the end of the third year, at which time Palepu disposes of this van. a. Compute the net book value of the van on the...
Question 11 A plant asset was purchased on January 1 for $40,000 with an estimated salvage value of $8,000 at the end of its useful life. The current year's depreciation expense is $4,000 calculated on the straight-line basis and the balance in the Accumulated Depreciation account at the end of the year is $20,000. The remaining useful life of the plant asset is O 10 years. 8 years. 3 years. O 5 years.
Marigold Company purchased a new van for floral deliveries on January 1, 2020. The van cost $47000 with an estimated life of 5 years and $14200 salvage value at the end of its useful life. The double declining-balance method of depreciation will be used. What is the depreciation expense for 2020? $13120 $18800 $9400 $6560 Attempts: 0 of 1 used Submit Answer forlater
Heatherbrae Co. uses the units-of-prodyction method to estimate depreciation. The company purchased a new machine for $40,000 that will produce an estimated 250,000 units over its useful ife. The estimated residual value of the machine is $4,000. What is the depreciation rate per unit? Multiple Choice $1.16 $1.14 $0.16 $014 5 of 7 Score answer> <Prev
Depreciation Schedules Barb's Florists Name: Units Table $ SI Purchased new truck Jan 1, 2012 Sold Dec 31, 2013 for $7.500 Accounts Expected value Estimated nule in years Estimated useful life in miles 100.000 Extra Credit Complete A, B, C, D 50 7.5 minutes C: Journalize Purchase and DDB Depreciation: Generalural Notestateulations Intreti rmia >> A Prepare the straight line depreciation tabl Straight line Der's Degree Exp Acum JE Purchase for cash: Dale of Purchase Life years Dacation Rate Cost...
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