Depreciation for 2011 under SOD mathod =($100,000 - $20,000)*5/(1+2+3+4+5) | |||
Depreciation for 2011 under SOD mathod =($100,000 - $20,000)*5/15 | |||
Depreciation for 2011 under SOD mathod =$80,000*5/15 =$26,667 | |||
So Option B is answer |
QUESTION 9 BEST Company purchased specialized equipment on January 1, 2011, that cost $100,000, has a residual valu...
QUESTION 8 BEST Company purchased specialized equipment on January 1, 2011, that cost $100,000, has a residual value of $20,000, and a useful life of five years. The book value of the asset on January 1, 2013 under the double declining balance method is: $36,000 540,000 $16,000 $60,000 None of the above.
QUESTION 11 BEST Company purchased specialized equipment on January 1, 2011, that cost $100,000, has a residual value of $20,000, and a useful life of five years. The book value of the asset on January 1, 2014 under the straight-line method is: $20,000 $52,000. $36,000 $68,000 None of the above.
QUESTION 7 BEST Company purchased specialized equipment on January 1, 2011, that cost $100,000, has a residual value of $20,000, and a useful life of five years. The amount of depreciation for 2011 under the double declining balance method is: $20,000. $40,000. $30,000. $32,000. None of the above.
पपचाompranous QUESTION 10 BEST Company purchased specialized equipment on January 1, 2011, that cost $100,000, has a residual value of $20,000, and a useful life of five years. The amount of depreciation for 2011 under the straight-line method is: $20,000 $10,000 $16,000 $32,000 None of the above.
ABC Company purchased Equipment on January 1, 2010 at a cost of $ 65,000. It has a salvage value of $ 5,000 and a useful life of 10 years. It is estimated that the machinery will produce 100,000 units during its life. The company uses the units of production method. The units produced during the first two years are as follows: 2010 25,000 units 2011 20,000 units a- Calculate the depreciable cost b- Calculate the depreciable cost per unit C-...
On 1/1/2011, ABC Company purchased a piece of equipment costing $65,000. The equipment is expected to have a useful life equal to 5 years and a salvage value equal to $5,000. Calculate the first two years’ depreciation expense using the following methods respectively. 1) the straight-line method 2011: 2012: 2) the double-declining method and 2011: 2012: 3) the sum-of-years’-digits’ method. 2011: 2012:
Knowledge Check 01 Rhonda Company purchased equipment on January 1, Year 1, for $420,000, estimating a four-year useful life and no residual value. In Year 1 and 2, Rhonda depreciated the asset using the sum-of-years'-digits method and the book value at the end of Year 2 was $126,000. At the beginning of Year 3, Rhonda changed to straight-line depreciation for this equipment. What depreciation would Rhonda record for the Year 3 on this equipment? (Round your answer to the nearest...
Rhonda Company purchased equipment on January 1, Year 1, for $420,000, estimating a four-year useful life and no residual value. In Year 1 and 2, Rhonda depreciated the asset using the sum-of-years'-digits method and the book value at the end of Year 2 was $126,000. At the beginning of Year 3, Rhonda changed to straight-line depreciation for this equipment. What depreciation would Rhonda record for the Year 3 on this equipment? (Round your answer to the nearest whole dollar.)
1) Kansas Enterprises purchased equipment for $79,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $6,900 at the end of five years. Using the straight-line method, depreciation expense for 2021 would be: 2) Kansas Enterprises purchased equipment for $80,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $6,450 at the end of ten years. Using the straight-line method,...
A company acquired a new piece of equipment on January 1, 2011 at a cost of $200,000. The equipment is expected to have a useful life of 10 years, a residual value of $20,000 and is depreciated on a straight-line basis. On January 1, 2013, the equipment was appraised and determined to have a fair value of $190,000 and a residual value of $25,000 and a remaining useful life of 10 years. At what amount should the equipment be reported...