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3. The first cost of a piece of equipment is $12,0oo, the useful life is estimated...
A piece of equipment has a first cost of $145,000, a maximum useful life of 7...
A piece of equipment has a first cost of $145,000, a maximum useful life of 7 years, and a market (salvage) value described by the relation S 120,000 - 25,000k, where k is the number of years since it was purchased. The salvage value cannot go below zero. The AOC series is estimated using AOC = 60,000 + 13,000k. The interest rate is 13% per year. Determine the economic service life and the respective AW. The economic service life is...
The initial cost of a piece of construction equipment is $4000 000. It has useful life...
The initial cost of a piece of construction equipment is $4000 000. It has useful life of 10 years. The estimated salvage value of the equipment at the end of useful life is $600 000. Calculate the depreciation charge and book value of the construction equipment using straight-line method and declining balance depreciation method in years 1, 4, 6, 9 and 10.
Problem 11.017 Economic Service Life A piece of equipment has a first cost of $135,000, a maximum useful life of 7 y...
Problem 11.017 Economic Service Life A piece of equipment has a first cost of $135,000, a maximum useful life of 7 years, and a market (salvage) value described by the relation S = 120,000 - 21,000k, where k is the number of years since it was purchased. The salvage value cannot go below zero. The AOC series is estimated using AOC = 60,000 + 11,000k. The interest rate is 12% per year. Determine the economic service life and the respective...
Cost 5) The pertinent information about a piece of construction equipment follows: $180,000 Estimated Useful Life...
Cost 5) The pertinent information about a piece of construction equipment follows: $180,000 Estimated Useful Life 200,000 Miles Residual (Salvage) Value $20,000 Placed in service 2015/1/2 Year 1 Output= 37,000 miles Year 2 Output= 51,000 miles Compute the first two years depreciation expense using the Units-of-Output method Year 1 $__ Year 2 $__
The Vermont Construction Company purchased a truck on January 1, 2009 at a cost of $35000. The truck has a useful life of eight years with an estimated salvage value of $6000. The straight-line method...
The Vermont Construction Company purchased a truck on January 1, 2009 at a cost of $35000. The truck has a useful life of eight years with an estimated salvage value of $6000. The straight-line method is used for book purposes, for tax purposes the track would be depreciated with the MACRS method over its five-year useful life. Determine the depreciation amount to be taken over the useful life of the having truck for both and tax purposes.
Bramble Corporation purchased machinery on January 1.2022. at a cost of $256.000. The estimated useful life...
Bramble Corporation purchased machinery on January 1.2022. at a cost of $256.000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $30,600. The company is considering different depreciation methods that could be used for financial reporting purposes. Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the Straight-line rate. STRAIGHT-LINE DEPRECIATION End of Year Computation Depreciable Cost X Depreciation...
A grader has an initial cost of $220,000 and an estimated useful life of 10 years....
A grader has an initial cost of $220,000 and an estimated useful life of 10 years. The salvage value after 10 years of use is estimated to be $25,000. What is the book value at the end of the eleventh year if the MACRS method of depreciation accounting is used? Select one: a. $0 b. $7,216 c. $19,500 d. $25,000
8. A company purchased a machine for $190.000. The machine has a useful life of 8...
8. A company purchased a machine for $190.000. The machine has a useful life of 8 produce 750,000 units over its useful life. Determine depreciation expense when output is 109,000 units A. $25,200. 8. $26,160 С. $ 26,660. D. $27,613. E. $53,160 years, a residual value of $10,000, and can deprecilation method in which a plant asset's depreciation depreciation rate to the asset's beginning-of-period book value is called A. Book value depreciation B. Declining-balance depreciation. C. Straight-ine depreciation. D. Units-of-production...
Sarasota Corporation purchased machinery on January 1, 2022, at a cost of $280,000. The estimated useful...
Sarasota Corporation purchased machinery on January 1, 2022, at a cost of $280,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $33,000. The company is considering different depreciation methods that could be used for financial reporting purposes. Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation Years Depreciable Cost x Depreciation Rate...
A building is acquired on January 1, at a cost of $1,000,000 with an estimated useful...
A building is acquired on January 1, at a cost of $1,000,000 with an estimated useful life of 10 years and salvage value of $90,000. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period End of Period Beginning of Period Book Value Accumulated Depreciation Depreciation Rate (%) Depreciation Expense Annual Period Book Valuo First Year Second Year Third Year
A piece of equipment has a first cost of $145,000, a maximum useful life of 7 years, and a market (salvage) value described by the relation S 120,000 - 25,000k, where k is the number of years since it was purchased. The salvage value cannot go below zero. The AOC series is estimated using AOC = 60,000 + 13,000k. The interest rate is 13% per year. Determine the economic service life and the respective AW. The economic service life is...
The initial cost of a piece of construction equipment is $4000 000. It has useful life of 10 years. The estimated salvage value of the equipment at the end of useful life is $600 000. Calculate the depreciation charge and book value of the construction equipment using straight-line method and declining balance depreciation method in years 1, 4, 6, 9 and 10.
Problem 11.017 Economic Service Life A piece of equipment has a first cost of $135,000, a maximum useful life of 7 years, and a market (salvage) value described by the relation S = 120,000 - 21,000k, where k is the number of years since it was purchased. The salvage value cannot go below zero. The AOC series is estimated using AOC = 60,000 + 11,000k. The interest rate is 12% per year. Determine the economic service life and the respective...
Cost 5) The pertinent information about a piece of construction equipment follows: $180,000 Estimated Useful Life 200,000 Miles Residual (Salvage) Value $20,000 Placed in service 2015/1/2 Year 1 Output= 37,000 miles Year 2 Output= 51,000 miles Compute the first two years depreciation expense using the Units-of-Output method Year 1 $__ Year 2 $__
Bramble Corporation purchased machinery on January 1.2022. at a cost of $256.000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $30,600. The company is considering different depreciation methods that could be used for financial reporting purposes. Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the Straight-line rate. STRAIGHT-LINE DEPRECIATION End of Year Computation Depreciable Cost X Depreciation...
8. A company purchased a machine for $190.000. The machine has a useful life of 8 produce 750,000 units over its useful life. Determine depreciation expense when output is 109,000 units A. $25,200. 8. $26,160 С. $ 26,660. D. $27,613. E. $53,160 years, a residual value of $10,000, and can deprecilation method in which a plant asset's depreciation depreciation rate to the asset's beginning-of-period book value is called A. Book value depreciation B. Declining-balance depreciation. C. Straight-ine depreciation. D. Units-of-production...
Sarasota Corporation purchased machinery on January 1, 2022, at a cost of $280,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $33,000. The company is considering different depreciation methods that could be used for financial reporting purposes. Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate. STRAIGHT-LINE DEPRECIATION Computation Years Depreciable Cost x Depreciation Rate...
A building is acquired on January 1, at a cost of $1,000,000 with an estimated useful life of 10 years and salvage value of $90,000. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period End of Period Beginning of Period Book Value Accumulated Depreciation Depreciation Rate (%) Depreciation Expense Annual Period Book Valuo First Year Second Year Third Year
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