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1. For a country that allows switching depreciation methods between declining balance (not DDB) and straight...
2. Henry has an assignment from his boss at Czech Glass and Wood Sculpting to evaluate...
2. Henry has an assignment from his boss at Czech Glass and Wood Sculpting to evaluate depreciation methods for writing off the $200,000 first cost of a newly acquired Trotec CO2 laser system for engraving and cutting. Productive life is 8 years and the salvage value is zero. Calculate the total PW of depreciation at 10% per year if the depreciation can be switched between DDB and SL, maximizing the PW of total depreciation. Fill in the table provided and...
Hello, I need a help with the following question. Compute Double Declining Balance Depreciation. The company...
Hello, I need a help with the following question. Compute Double Declining Balance Depreciation. The company reported: The machine costs $75,000, and its estimated useful life is 5 years, after which the expected salvage value is $5,000. Compute depreciation expense and accumulated depreciation for each year using double declining balance. I calculated myself for the 5 years, but the 5th year number is larger than the salvage value. So please, show how you calculate DDB for the 5 years. To...
For each of the following depreciable assets, determine the missing amount. Abbreviations for depreciation methods are...
For each of the following depreciable assets, determine the missing amount. Abbreviations for depreciation methods are SL for straight line, SYD for sum-of-the-years' digits, and DDB for double-declining balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Asset Cost Residual Value $ 32,000 41,000 89,000 254,000 212,000 Service Life Depreciation Depreciation (Years) Method (Year 2) DDB $ 39,000 SYD 7,000 SL 5.000 10 23,200 8 150% DB 9,000 22.000 32,000
Question 1 A business equipment used for the manufacture of commercial goods $40,000. This asset is expected to be sold...
Question 1 A business equipment used for the manufacture of commercial goods $40,000. This asset is expected to be sold after 4 years for $7,000. Compute the depreciation amounts every year (depreciation schedule) during the useful life of this asset. Please refer to a current tax regulations1 for CCA rates. Please attempt using the following methods: can be purchased for First, book depreciation: [a] Straight-line (SL) method (Book Depreciation) b] Double balance (DB) method with rate 20% (Book Depreciation) [c]...
You have a tax basis of $90,000 and a useful life of five years and no...
You have a tax basis of $90,000 and a useful life of five years and no salvage value. Provide a depreciation schedule (d, for k=1-5) for 150% declining balance with switchover to straight line. Specify the year to switchover. Determine the depreciation amounts using the 150% declining balance and straight-line methods and BV amounts for each year. (Round to the nearest dollar.) Year 150% DB Method, $ SL Method, $ Depreciation Amount Selected, $ BV: $ 1 0 0 0...
Prepare the depreciation tables for A. Straight Line, B. Double Declining Balance, and C. Units of...
Prepare the depreciation tables for A. Straight Line, B. Double
Declining Balance, and C. Units of Activity.
Next Journalize the purchase of the truck, the first year's
depreciation expense, and the disposal of the
truck. (including explanations)
Here's the data:
Purchased on January 1, 2012 for $13,000. Has an
estimated residual value of $1,000.
Useful life of 5 years or 100,000 miles.
Sold on December 31st, 2013
100 Depr Scheds Barb's Florists Solution with JE thru Disposal and T accounts XX...
Exercise 12-29 Value of Accelerated Depreciation: Sum-of-Years'-Digits (SYD) and Double Declining. Balance (DDB) Methods (LO 12-3)...
Exercise 12-29 Value of Accelerated Depreciation: Sum-of-Years'-Digits (SYD) and Double Declining. Balance (DDB) Methods (LO 12-3) Freedom Corporation acquired a fixed asset for $100,000. Its estimated life at time of purchase was 4 years, with no estimated salvage value. Assume a discount rate of 8% and an income tax rate of 40%. (Use Exhibit 124. Appendix C. TABLE 1 and Appendix C. TABLE 2) Required: 1. What is the incremental present value of the tax benefits resulting from calculating depreciation...
If Quick Company used Double Declining Balance (DDB) depreciation method instead of straight-line, calculate the following:...
If Quick Company used Double Declining Balance (DDB)
depreciation method instead of straight-line, calculate the
following:
Depreciation expense each year
Accumulated depreciation each year
Net book value each year
Impairment loss (if any) at the end of year 4
Comparing the impairment loss in d) with the impairment loss we
calculated in class under the straight-line method, discuss the
implication.
Quick Company acquired a piece of equipment in Year 1 at a cost of $100,000. The equipment has a 10-year...
If Quick Company used Double Declining Balance (DDB) depreciation method instead of straight-line, calculate the following:...
If Quick Company used Double
Declining Balance (DDB) depreciation method instead of
straight-line, calculate the following:
Depreciation expense each year
Accumulated depreciation each year
Net book value each year
Impairment loss (if any) at the end of year 4
Comparing the impairment loss in d) with the impairment loss we
calculated in class under the straight-line method, discuss the
implication.
Quick Company acquired a piece of equipment in Year 1 at a cost of $100,000. The equipment has a 10-year...
Problem 1 An equipment at MNS Systems costing $600,000 was depreciated using the double declining balance...
Problem 1 An equipment at MNS Systems costing $600,000 was depreciated using the double declining balance (DDB) method. In year four, the company decided switch to the straight-line depreciation method. Determine the depreciation charges in year 4. Assume a depreciable life of 10 years, and a salvage value of $100,000.- A. $32,000 B. $50,000 C. $36,667 D. $40,000
2. Henry has an assignment from his boss at Czech Glass and Wood Sculpting to evaluate depreciation methods for writing off the $200,000 first cost of a newly acquired Trotec CO2 laser system for engraving and cutting. Productive life is 8 years and the salvage value is zero. Calculate the total PW of depreciation at 10% per year if the depreciation can be switched between DDB and SL, maximizing the PW of total depreciation. Fill in the table provided and...
For each of the following depreciable assets, determine the missing amount. Abbreviations for depreciation methods are SL for straight line, SYD for sum-of-the-years' digits, and DDB for double-declining balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Asset Cost Residual Value $ 32,000 41,000 89,000 254,000 212,000 Service Life Depreciation Depreciation (Years) Method (Year 2) DDB $ 39,000 SYD 7,000 SL 5.000 10 23,200 8 150% DB 9,000 22.000 32,000
Question 1 A business equipment used for the manufacture of commercial goods $40,000. This asset is expected to be sold after 4 years for $7,000. Compute the depreciation amounts every year (depreciation schedule) during the useful life of this asset. Please refer to a current tax regulations1 for CCA rates. Please attempt using the following methods: can be purchased for First, book depreciation: [a] Straight-line (SL) method (Book Depreciation) b] Double balance (DB) method with rate 20% (Book Depreciation) [c]...
You have a tax basis of $90,000 and a useful life of five years and no salvage value. Provide a depreciation schedule (d, for k=1-5) for 150% declining balance with switchover to straight line. Specify the year to switchover. Determine the depreciation amounts using the 150% declining balance and straight-line methods and BV amounts for each year. (Round to the nearest dollar.) Year 150% DB Method, $ SL Method, $ Depreciation Amount Selected, $ BV: $ 1 0 0 0...
Prepare the depreciation tables for A. Straight Line, B. Double
Declining Balance, and C. Units of Activity.
Next Journalize the purchase of the truck, the first year's
depreciation expense, and the disposal of the
truck. (including explanations)
Here's the data:
Purchased on January 1, 2012 for $13,000. Has an
estimated residual value of $1,000.
Useful life of 5 years or 100,000 miles.
Sold on December 31st, 2013
100 Depr Scheds Barb's Florists Solution with JE thru Disposal and T accounts XX...
Exercise 12-29 Value of Accelerated Depreciation: Sum-of-Years'-Digits (SYD) and Double Declining. Balance (DDB) Methods (LO 12-3) Freedom Corporation acquired a fixed asset for $100,000. Its estimated life at time of purchase was 4 years, with no estimated salvage value. Assume a discount rate of 8% and an income tax rate of 40%. (Use Exhibit 124. Appendix C. TABLE 1 and Appendix C. TABLE 2) Required: 1. What is the incremental present value of the tax benefits resulting from calculating depreciation...
If Quick Company used Double Declining Balance (DDB)
depreciation method instead of straight-line, calculate the
following:
Depreciation expense each year
Accumulated depreciation each year
Net book value each year
Impairment loss (if any) at the end of year 4
Comparing the impairment loss in d) with the impairment loss we
calculated in class under the straight-line method, discuss the
implication.
Quick Company acquired a piece of equipment in Year 1 at a cost of $100,000. The equipment has a 10-year...
If Quick Company used Double
Declining Balance (DDB) depreciation method instead of
straight-line, calculate the following:
Depreciation expense each year
Accumulated depreciation each year
Net book value each year
Impairment loss (if any) at the end of year 4
Comparing the impairment loss in d) with the impairment loss we
calculated in class under the straight-line method, discuss the
implication.
Quick Company acquired a piece of equipment in Year 1 at a cost of $100,000. The equipment has a 10-year...
Problem 1 An equipment at MNS Systems costing $600,000 was depreciated using the double declining balance (DDB) method. In year four, the company decided switch to the straight-line depreciation method. Determine the depreciation charges in year 4. Assume a depreciable life of 10 years, and a salvage value of $100,000.- A. $32,000 B. $50,000 C. $36,667 D. $40,000
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