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2. O n May 1, 20x1, your a machine with a useful life of 2,520,000 units...
tering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for with an estimated...
tering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for with an estimated useful life of 60,000 miles and a residual value of $6,000.Miles driven are as follows: Year 20x1 20X2 20X3 20x4 20x5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: a. $18,500 b. $26,000 c. $12,500 d. $33,500
stering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for so6000. Miles with...
stering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for so6000. Miles with an estimated useful life of 60,000 miles and a residua driven are as follows: $36,000 a truck l value of Year 20X1 20x2 20X3 20x4 20X5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: a. $18,500 b. $26,000 c. $12,500 d. $33,500
On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for $36,000 a truck with an...
On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for $36,000 a truck with an estimated useful life of 60,000 miles and a residual value of $6,000. Miles driven are as follows: Year 20x1 20X2 20x3 20x4 20x5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: Your company uses the DDB method. Assets purchased between the 1st and 15th are depreciated for the entire month; assets purchased after the 15th...
July 1,20x1 Zipco which uses UPO ON OPO for deppeciation n ,pueneses $ 36, 000 a...
July 1,20x1 Zipco which uses UPO ON OPO for deppeciation n ,pueneses $ 36, 000 a truck'with an estimated Useful life af 60, 000 miles and Q REgeaD residul yalive of $6, 000 Miles driven as follows: Miles 5,000 10,000 20,000 25,000 30, 000 Year 20x1 20X2 20X3 20X4 20X5 The book December 31, 20X3 is: value of the truck on a)s18,500 b)$26,000 C) $ 12; 500 6l) $ 33,50
tering Depreciation 6 On May 1, 20X1, your company purchases for $260,000 a machine with an...
tering Depreciation 6 On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000 Your company uses SYD depreciation and depreciates assets purchased between the 1 and 15h of the month for the entire month and assets purchased after the 15 as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38256 $36,325 d. $35,256
tering Depreciation On May 1, 20X1, your company purchases for $260,000 a machine with an estimated...
tering Depreciation On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000. Your company uses SYD depreciation and depreciates assets purchased between the 1st and 15th of the month for the entire month and assets purchased after the 15th as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38,256 c. $36,325 d. $35,256
Company C started business on January 1, 20X1, and bought the following piece of equipment. Cost...
Company C started business on January 1, 20X1, and bought the following piece of equipment. Cost of asset $200,000 Salvage 20,000 Useful life 5 Tax rate 21% 20X1 estimated tax payment 4,000 Depreciation for book and tax purposes is as follows: Book Tax 20X1 36,000 80,000 20X2 36,000 48,000 20X3 36,000 28,800 20X4 36,000 17,280 20X5 36,000 5,920 20X1 income statement information: Sales 362,000 Expenses (does not include depreciation expense and tax expense) 217,000 What is the ending balance of...
Cost of machine $100,000 $ 5,000 Residual value Useful life 5 years Estimated units machine will...
Cost of machine $100,000 $ 5,000 Residual value Useful life 5 years Estimated units machine will 100,000 produce Actual production: Year 1 Year 2 70,000 20,500 Use MACRS table Depreciation Expense Method Year 1 Year 2 Straight line Units of production Declining balance MACRS (5-year class)
ering Depreciation On April 1, 20X1, a with an acquisition nits over its 8-year life he...
ering Depreciation On April 1, 20X1, a with an acquisition nits over its 8-year life he asset for book Use the following information to answer Questions 46-50: On April 1 company that uses a calendar year purchases equipment with an cost of $85.000 that it estimates will produce 800,000 units over and have a residual value of 85.000. You are depreciating the asset purposes. 46. If the company uses the straight-line method, 20X1 depreciation will be.. a. $10,625 b. $10,000...
8-35 Units-of-Production Depreciation Method The Rockland Transport Company has many trucks that have an estimated useful...
8-35 Units-of-Production Depreciation Method The Rockland Transport Company has many trucks that have an estimated useful life of 200,000 miles. The company computes depreciation on a mileage basis. Suppose Rockland purchases a new truck for $100,000 cash. Its expected residual value is $10,000. Its mileage during year 1 is 60,000 and during year 2 is 90,000. · What is the depreciation expense for each of the 2 years? Compute the gain or loss if Rockland sells the truck for $40,000...
tering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for with an estimated useful life of 60,000 miles and a residual value of $6,000.Miles driven are as follows: Year 20x1 20X2 20X3 20x4 20x5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: a. $18,500 b. $26,000 c. $12,500 d. $33,500
stering Depreciation On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for so6000. Miles with an estimated useful life of 60,000 miles and a residua driven are as follows: $36,000 a truck l value of Year 20X1 20x2 20X3 20x4 20X5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: a. $18,500 b. $26,000 c. $12,500 d. $33,500
On July 1, 20X1, ZipCo, which uses UOP depreciation, purchases for $36,000 a truck with an estimated useful life of 60,000 miles and a residual value of $6,000. Miles driven are as follows: Year 20x1 20X2 20x3 20x4 20x5 Miles 5,000 10,000 20,000 25,000 30,000 The book value of the truck on December 31, 20X3 is: Your company uses the DDB method. Assets purchased between the 1st and 15th are depreciated for the entire month; assets purchased after the 15th...
July 1,20x1 Zipco which uses UPO ON OPO for deppeciation n ,pueneses $ 36, 000 a truck'with an estimated Useful life af 60, 000 miles and Q REgeaD residul yalive of $6, 000 Miles driven as follows: Miles 5,000 10,000 20,000 25,000 30, 000 Year 20x1 20X2 20X3 20X4 20X5 The book December 31, 20X3 is: value of the truck on a)s18,500 b)$26,000 C) $ 12; 500 6l) $ 33,50
tering Depreciation 6 On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000 Your company uses SYD depreciation and depreciates assets purchased between the 1 and 15h of the month for the entire month and assets purchased after the 15 as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38256 $36,325 d. $35,256
tering Depreciation On May 1, 20X1, your company purchases for $260,000 a machine with an estimated useful life of 12 years and a salvage value of $10,000. Your company uses SYD depreciation and depreciates assets purchased between the 1st and 15th of the month for the entire month and assets purchased after the 15th as though they were acquired the following month. What is 20X2 depreciation expense? a. $38,462 b. $38,256 c. $36,325 d. $35,256
Cost of machine $100,000 $ 5,000 Residual value Useful life 5 years Estimated units machine will 100,000 produce Actual production: Year 1 Year 2 70,000 20,500 Use MACRS table Depreciation Expense Method Year 1 Year 2 Straight line Units of production Declining balance MACRS (5-year class)
ering Depreciation On April 1, 20X1, a with an acquisition nits over its 8-year life he asset for book Use the following information to answer Questions 46-50: On April 1 company that uses a calendar year purchases equipment with an cost of $85.000 that it estimates will produce 800,000 units over and have a residual value of 85.000. You are depreciating the asset purposes. 46. If the company uses the straight-line method, 20X1 depreciation will be.. a. $10,625 b. $10,000...
8-35 Units-of-Production Depreciation Method The Rockland Transport Company has many trucks that have an estimated useful life of 200,000 miles. The company computes depreciation on a mileage basis. Suppose Rockland purchases a new truck for $100,000 cash. Its expected residual value is $10,000. Its mileage during year 1 is 60,000 and during year 2 is 90,000. · What is the depreciation expense for each of the 2 years? Compute the gain or loss if Rockland sells the truck for $40,000...
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