Annual depreciation expense=(Cost-Salvage value)/Useful Life
=(15000-1080)/4
=$3480/year
Hence depreciation expense for 2019=$3480*2/12[Period from October 31-December 31]
=580.
Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4...
Equipment costing $15,000 with an estimated salvage value of $1,080 and an estimated life of 4 years was purchased on October 31, 2019. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 2019?
Equipment costing $27,000 with an estimated salvage value of $2,040 and an estimated life of 4 years was purchased on October 31, 2019. Using the straight-line depreciation method, what is the amount of depreciation expense to be recorded at December 31, 2019? Multiple Choice o $1,125 o o S1,040 o
equipment costing $110000 with a salvage value of $15000 and
an estimated life of 8 years has been
Kimmel, Accounting, 6e 134 Equipment costing $110000 with a salvage value of $15000 and an estimated life of 8 years has been depreciated using the straight-line rounde d) tor Years, Assurming a revised estimated total life of 6 years and no change in the salvage value, the depreciation expense $15833. $23750. O $11875. Open Show Work Click if you would like to...
A company purchased factory equipment on April 1, 2022 for $159500. It is estimated that the equipment will have a $15500 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, 2022 is 515950 $14400. $10800 511953 Multiple Choice Question 109 On January 1. a machine with a useful life of four years and a salvage value of $15000 was purchased for $120000....
A machine costing $209,000 with a four-year life and an estimated $15,000 salvage value is installed in Luther Company's factory on January 1. The factory manager estimates the machine will produce 485,000 units of product during its life. It actually produces the following units: 122,500 in Year 1, 122,700 in Year 2, 120,300 in Year 3, 129,500 in Year 4. The total number of units produced by the end of Year 4 exceeds the original estimate-this difference was not predicted....
E1. Bobby purchases equipment with cost of $40,000 and salvage value of $3,500 and life of 4 years. Create a STRAIGHT LINE DEPRECIATION SCHEDULE. Year Depr. Cost Rate Depr. Exp. Accum. Depr. Book Value E2. Use the same Cost, SV and life for a depreciation schedule using DOUBLE DECLINING BALANCE Cost-$40,000 SV=$3,500 and Life = 4 years. Year Book Value Beg. Rate Depr. Exp. Accum. Depr. Book Value End 2 E3. Carlson purchased Equipment for $56,000 with salvage value $7,000...
A machine costing $209,000 with a four-year life and an estimated $15,000 salvage values installed in Luther Company's factory on Januaryt. The factory manager estimates the machine w produce 485,000 units of product during its life. It actually produces the following units: 12.700 In Year 1,123,400 in Year 2, 120.500 In Year 3, 129.400 In Year. The total number of units produced by the end of Year 4 exceeds the original estimateth's dierence was not predicted. (The machine cannot be...
On June 1, a machine costing $660,000 with a 5-year life and an
estimated $50,000 salvage value was purchased. It was also
estimated that the machine would produce 200,000 units during its
life. Actual production would be 40,000 units per year for all five
years.
Using the depreciation template provided, determine the amount
of depreciation expense for the third year under each of the
following assumption
The company uses the double-declining-balance method of
depreciation.
50 Cast Salvage value Depreciable cost...
Question 4 A company purchased factory equipment on April 1, 2022 for $128,000. It is est salvage value at the end of its 10-year useful life. Using the straight-line method depreciation expense at December 31, 2022 is $9.600. O $11,200. $8,400. O $12,800. IIBA Question 4 A company purchased factory equipment on April 1, 2022 for $128,000. It is estimated tha salvage value at the end of its 10-year useful life. Using the straight-line method of depreci depreciation expense at...
E3. Carlson purchased Equipment for $56,000 with salvage value $7,000 and a 10-year life. Carlson used the asset for four years, straight line, but it was apparent that the Equipment would last only 4 more years. 1. What was the book value of the Equipment after 4 years? $. 2. What will be the depreciation expense in each of the remaining 4 years?$ Hint: take the remaining book value, subtract salvage value, and divide by remaining life. E4. Partial Year...