Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,600. Using the double-declining balance method, depreciation for 2018 and the book value at December 31, 2018, would be:
Homework Answers
Calculation of depreciation as per double declining:
Depreciation= (original cost-salvage value)/useful life
Depreciation= (48000-6600)/5= 8280
Depreciation rate= 8280/48000*100= 17.25%
Double declining depreciation rate= 17.25*2= 34.50%
Depreciation= 48000*0.345= 16560
Depreciation is 16560
Book value= 48000-16560= 31440
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Cutter Enterprises purchased equipment for $48,000 on January 1,
2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $48,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $3,600. Using the double-declining balance method, depreciation for 2018 and the book value at December 31, 2018, would be: A.$17,760 and $26,640 respectively. B.$19,200 and $28,800 respectively. C. $19,200 and $25,200 respectively. D.$17,760 and $30,240 respectively.
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Cutter Enterprises purchased equipment for $84,000 on January 1, 2018. The equipment is expected to have...
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Cutter Enterprises purchased equipment for $51,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $51,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $4,500. Using the double-declining balance method, depreciation for 2018 and the book value at December 31, 2018, would be: Multiple Choice $18,600 and $32,400 respectively. $20,400 and $30,600 respectively. $20,400 and $26,100 respectively. $18,600 and $27,900 respectively.
Cutter Enterprises purchased equipment for $84,000 on January 1, 2018. The equipment is expected to have...
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Cutter Enterprises purchased equipment for $66,000 on January 1, 2018. The equipment is expected to have...
Cutter Enterprises purchased equipment for $66,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $8,700. Using the straight-line method, depreciation for 2019 and the equipment's book value at December 31, 2019, would be: Multiple Choice $11,460 and $34,380 respectively. $11,460 and $43,080 respectively. $13,200 and $52,800 respectively. $26,400 and $39,600 respectively.
23 Cutter Enterprises purchased equipment for $81,000 on January 1, 2018. The equipment is expected to...
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$6.000 Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to...
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Cutter Enterprises purchased equipment for $84,000 on January 1, 2016. The equipment is expected to have...
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Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have...
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$6.000 Cutter Enterprises purchased equipment for $72,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value Using the sum-of-the-years'-digits method, depreciation for 2021 and book value at December 31, 2021, would be: (Do not round depreciation rate per year) $22,000 and $44,000 respectively $22,000 and $50,000 respectively $24,000 and $42.000 respectively $24,000 and $48,000 respectively
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