Homework Answers
Double decline rate = 100/8*2 = 25%
2016 Depreciation expense = 32000*25% = 8000
So answer is b) $8000
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Tidy Limited purchased a new van on January 1, 2016. The van cost $32.000. It has...
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equipment was purchased for $86,300 on January 1, 2016. Freight charges amounted yo $3,800 and there...
equipment was purchased for $86,300 on January 1, 2016.
Freight charges amounted yo $3,800 and there was a cost of $12,000
for building a foundation and installing the equipment. It is
estimated that the equipment will have $22,000 salvage value at the
end of its 5 year useful life. What is the amount of accumulated
depreciation at December 31, 2017, if the straight-line method of
depreciation is used?
Multiple Choice Question 205 A company purchased factory equipment for 1400000. It...
Depreciation Handout Excel Company purchased a delivery van on January 1, 2012 for $33,000. Management has...
Depreciation Handout Excel Company purchased a delivery van on January 1, 2012 for $33,000. Management has estimated that equipment will have a useful life of five years or 100,000 hours. At the end of five years, management believes that equipment will be worth $3,000. The actual miles the van was driven is as follows: 2012 2013 2014 2015 2016 22,000 miles 24,000 miles 15,000 miles 20,000 miles 21,000 miles Straight line Depreciation Cost - Residual Value Years (Depreciable Cost) Year...
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A company purchased a delivery van on January 1, 2016, for $18,600. The van was estimated to have a useful service life of four years (57,000 miles) and residual value of $1,500. The van was driven 20,500 miles the first year, 16,000 miles the second year, 15,400 miles the third year, and 5,100 miles the fourth year. Determine depreciation expense for each year using the three depreciation methods below. (Round all of the final answers you input to the nearest...
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Nankl Corporation purchased equipment on January 1, 2016. for $677,000. In 2016 and 2017, Nanki depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $13,000 residual value. In 2018, due to changes in sed the useful life to a total of 4 years with no residual value. What depreciation would Nanki record for the year 2018 on this equipment? (Round your answer to the nearest dollar amount.) Multiple Choice o $110,667 o...
equipment was purchased for $86,300 on January 1, 2016.
Freight charges amounted yo $3,800 and there was a cost of $12,000
for building a foundation and installing the equipment. It is
estimated that the equipment will have $22,000 salvage value at the
end of its 5 year useful life. What is the amount of accumulated
depreciation at December 31, 2017, if the straight-line method of
depreciation is used?
Multiple Choice Question 205 A company purchased factory equipment for 1400000. It...
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