*204. A company purchased office equipment for $30,000 and estimated a salvage value of $6,000 at...
*204. A company purchased office equipment for $30,000 and estimated a salvage value of $6,000 at the end of its 8-year useful life. The constant percentage to be applied against book value each year if the double-declining-balance method is used is a. 8%. b. 12.5% c. 25.0%. d. 2.5%
A company purchased office equipment for $35000 and estimated a salvage value of $9000 at the end of its 8-year useful life. The constant percentage to be applied against book value each year if the double-declining balance method is used is (Round answer to 1 decimal place, e.g. 15.2.) O 2.5% O 8.0% O 25.0%. O 12.5%
Equipment was purchased for $301000. Freight charges amounted to $14900 and there was a cost of $40500 for building a foundation and installing the equipment. It is estimated that the equipment will have a $59800 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be $59320 $48240 $71280 $49120 A company purchased office equipment for $36000 and estimated a salvage value of $8000 at the end of its 20-year useful...
•On Jan 1, ABC Co. purchased a piece of equipment for $280,000, $30,000 salvage value, 4 year useful life. The equipment is estimated to produce 500,000 units over its life. Actual units produced were 125,000; 100,000; 175,000; 100,000 for years 1-4, respectively. Determine depreciation for each year under straight line, units of production, and double declining balance. • •Part B. At the end of year 3 (prior to recording depreciation expense for that year) ABC Co changed the estimated useful...
A company purchased factory equipment for $560000. It is estimated that the equipment will have a $56000 salvage value at the end of its estimated 8-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be $126000. $94500. $140000. $105000.
On January 2, 2017, X Company purchased equipment for $240,000. The equipment has an estimated useful life of 5 years and an estimated salvage value of $30,000. The equipment is being depreciated using the double-declining balance method. What will be the balance in accumulated depreciation at December 31, 2018?
Bramble Corp. purchased a depreciable asset for $379000. The estimated salvage value is $25000, and the estimated useful life is 8 years. The double declining balance method wil be used for depreciation. What is the depreciation expense for the second year on this asset? $94750 O 571063 O $66625 $44250
ABC Company purchased equipment on January 1, 2009 for $72,000. It was estimated that the equipment would have a $5,000 salvage value at the end of its 5-year useful life. It was also estimated that the equipment would produce 100,000 units over its 5-year life. If the company used the double- declining balance method of depreciation, what was the balance of the Accumulated Depreciation of the equipment at December 31, 2011?
May 1 - Purchased office equipment for $30,000, paying $6,000 down and signing a 2-year, 12% (annual rate) note payable for the balance. The office equipment is expected to have a useful life of 10 years and a salvage value of $3,000. Straight-line depreciation is used. Required: On the basis of the preceding information (both the transactions and additional information), prepare AJEs to adjust the company’s books as of December 31, 2020.
machine 1: cost 76,000 salvage value 6,000 useful life 10 years purchased 7/1/16 machine 2: cost 80,000 salvage value 10,000 useful life 8 years purchased 1/1/13 machine 3: cost 78,000 salvage value 6,000 useful life 6 years = 24,000 hours purchased 1/1/18 Problem: In recent years, Hrubeck Company purchased three machines. Because of heavy turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods were selected. Information concerning...