Homework Answers
Answer 28. Option b is correct i.e. $20,000
Depreciation = (Book Value – Salvage Value) /Depreciable life
Depreciation = (1,50,000-50,000)/5 = 1,00,000/5 = $20,000
Answer 29. Option a is correct i.e. $70,000
Book Value after 1st Year = 1,50,000- 20,000 = 1,30,0000
Book Value after 2nd Year = 1,30,000 – 20,000 = 1,10,000
Book Value after 3rd Year = 1,10,000 – 20,000 = 90,000
Book Value after 4rd Year = 90,000 – 20,000 = 70,000
Book Value after 5th Year = 70,000 – 20,000 = 50,000
Answer 30. None of the options is correct. The correct answer is 13.33%
Fraction of Asset that can depreciated in 2018 = (Depreciation value /Book value)*100
= (20,000/1,50,000)*100 = 13.33%
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Scenario EIGHT: Atractor was purchased for $150,000 and placed in service by Olsen Farm's in August...
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question C: im done eoth a and c. im not sure about c 421 On August...
question C: im done eoth a and c. im not sure about c
421 On August 3, Cinco Construction purchased special-purpose equipment at a cost of $1,000,000. The useful life of the equipment was estimated to be eight years, with an estimated residual value of $50,000. S a. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the straight-line depreciation method (half-year convention). b. Compute the depreciation expense to be recognized each calendar year...
That is the answer i got but i did 5 years and i tjink i should...
That is the answer i got but i did 5 years and i tjink
i should have done 4 ....i just want to know is this correct or
wrong before i turn it in
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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...
question C: im done eoth a and c. im not sure about c
421 On August 3, Cinco Construction purchased special-purpose equipment at a cost of $1,000,000. The useful life of the equipment was estimated to be eight years, with an estimated residual value of $50,000. S a. Compute the depreciation expense to be recognized each calendar year for financial reporting purposes under the straight-line depreciation method (half-year convention). b. Compute the depreciation expense to be recognized each calendar year...
That is the answer i got but i did 5 years and i tjink
i should have done 4 ....i just want to know is this correct or
wrong before i turn it in
Search AutoSave Of H9 File Home Insert B Draw H W 10 Stephanie Sanchez - Excel Formulas Data Review View Page Layout Help F21 4 27 fx 150,000-10,000/12-5 A B C D E F G H I J E22-12B (L02) (Depreciation Changes) On January 1, 2013,...
Max purchased a labelling machine on the 1st of June 2017. The machine cost $200,000 which was paid for by a loan of $150,000 and cash of $50,000. The machine will be used for 8 years and it is expected that Max Corporation will receive $8,000 cash for the scrap. The machine is expected to produce labels at the rate of: Year ended March 2018 2019 2020 2021 2022 80,000 100,000 120,000 130,000 140,000 -6- 2023 2024 2025 2026 Total...
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