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Format oT Depree Straight line Depreciation Method EOY Depreciation Charge Book Value C12,000 0) 2775 2...
Problem #3 (a) Using straight-line depreciation, what is the book value after 5 years for an...
Problem #3 (a) Using straight-line depreciation, what is the book value after 5 years for an asset costing $100,000 that has a salvage value of 20,000 after 10 years? What is the depreciation charge in the 9th year? (b) Using decline-balance depreciation with d=15%, what is the book value after 4 years for an asset costing $250,000? What is the depreciation charge in the 5th year? (c) What is the depreciation rate using declining-balance for an asset costing $250,000 and...
Straight-Line Depreciation Rates Convert each of the following estimates of useful life to a straight-line depreciation...
Straight-Line Depreciation Rates Convert each of the following estimates of useful life to a straight-line depreciation rate, stated as a percentage, assuming that the residual value of the fixed asset is to be ignored: (a) 4 years, (b) 8 years, (c) 10 years, (d) 16 years, (e) 25 years, (f) 40 years, (g) 50 years. If required, round your answers to two decimal places. Years Percentage 4 years 8 years 10 years 16 years 25 years 40 years 50 years...
c.Depreciation of property, plant, and equipment. Method for book: any of the systematic and rational allocation...
c.Depreciation of property, plant, and equipment. Method for book: any of the systematic and rational allocation methods (straight-line, SOYD, Double declining balance method, etc) can be used. Method for tax: Generally MACRS, but let us say the company uses the double declining balance method for this example On January 1, 2016, Wise Company purchased a piece of equipment at its fair market value of $610,000. Wise Company expects to use the asset for 8 years and also expects residual value...
Name Date L. STRAIGHT LINE DEPRECIATION The next two problems provide a closer look at Straight...
Name Date L. STRAIGHT LINE DEPRECIATION The next two problems provide a closer look at Straight Line versus Double Declining Balance Depreciation. In these problems, assume all machinery is bought at the first of the year. Salvage Value Useful Life 1) Tractor A 2) Tractor B 3) Combine Cost 60,000 75,000 98,000 20,000 Assume you own the machinery above. Calculate annual depreciation using the straight-line method. Tractor A Taector Combine Year 1 Year 2 Year 3 Year 4 Year 5...
Fill in the book value at the end of year 1 under each depreciation method when...
Fill in the book value at the end of year 1 under each depreciation method when residual value is $36,000 and useful life is 4 years: Depreciation method: Straight-line $335,250 Units-of-Output Double-declining $217,500
The double-declining balance method is applied by (1) calculating the asset's straight-line depreciation rate, (2) doubling...
The double-declining balance method is applied by (1) calculating the asset's straight-line depreciation rate, (2) doubling it, (3) subtracting residual value from cost, and (4) multiplying the rate times the cost. * O True False
14.1 Using the Straight Line (SL) depreciation method, what is the (a) annual depreciation charge, Dt=?,...
14.1 Using the Straight Line (SL) depreciation method, what is the
(a) annual depreciation charge, Dt=?, (b) the total accumulated
depreciation charge, D4=? , at the end of year 4, and (c) the book
value, BV=? , at the end of year 4, for an automobile with a
Five-year useful life that has a first cost of $19,657 and an
$8,418.40 salvage value?
14.1 Using the Straight Line (SL) depreciation method, what is the (a) annual depreciation charge, DF?, (b)...
The following table demonstrates the double-declining balance method for the same asset. The depreciation rate is...
The following table demonstrates the double-declining balance method for the same asset. The depreciation rate is equal to double the depreciation rate for the straight-line method. The annual depreciation in the straight-line method is $2,000. Therefore the depreciation rate is $2,000 divided by $10,000, which is 20%. In the double-declining balance method this rate is doubled to 40%. Fill up the blanks. Year Book value (start of year) Depreciation Rate Depreciation expense Accumulated Depreciation Book value (year end) 1 10000 40%...
Which depreciation method results in the most depreciation in the first year of the truck’s five-year...
Which depreciation method results in the most depreciation in
the first year of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the same amount of
depreciation each year?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the most accumulated
depreciation by the end of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
What is the truck’s estimated residual value (Hint: Recall the
purchase...
Using the Straight Line (SL) depreciation method, what is the (a) annual depreciation charge, Dt=?, (b)...
Using the Straight Line (SL) depreciation method, what is the (a) annual depreciation charge, Dt=?, (b) the total accumulated depreciation charge, D3=?, at the end of year 3, and (c) the Book Value, BV3=?, at the end of year 3, for an automobile with a five-year useful life that has a first cost of $20,200 and an $8,565.00 salvage value?
Problem #3 (a) Using straight-line depreciation, what is the book value after 5 years for an asset costing $100,000 that has a salvage value of 20,000 after 10 years? What is the depreciation charge in the 9th year? (b) Using decline-balance depreciation with d=15%, what is the book value after 4 years for an asset costing $250,000? What is the depreciation charge in the 5th year? (c) What is the depreciation rate using declining-balance for an asset costing $250,000 and...
Straight-Line Depreciation Rates Convert each of the following estimates of useful life to a straight-line depreciation rate, stated as a percentage, assuming that the residual value of the fixed asset is to be ignored: (a) 4 years, (b) 8 years, (c) 10 years, (d) 16 years, (e) 25 years, (f) 40 years, (g) 50 years. If required, round your answers to two decimal places. Years Percentage 4 years 8 years 10 years 16 years 25 years 40 years 50 years...
c.Depreciation of property, plant, and equipment. Method for book: any of the systematic and rational allocation methods (straight-line, SOYD, Double declining balance method, etc) can be used. Method for tax: Generally MACRS, but let us say the company uses the double declining balance method for this example On January 1, 2016, Wise Company purchased a piece of equipment at its fair market value of $610,000. Wise Company expects to use the asset for 8 years and also expects residual value...
Name Date L. STRAIGHT LINE DEPRECIATION The next two problems provide a closer look at Straight Line versus Double Declining Balance Depreciation. In these problems, assume all machinery is bought at the first of the year. Salvage Value Useful Life 1) Tractor A 2) Tractor B 3) Combine Cost 60,000 75,000 98,000 20,000 Assume you own the machinery above. Calculate annual depreciation using the straight-line method. Tractor A Taector Combine Year 1 Year 2 Year 3 Year 4 Year 5...
The double-declining balance method is applied by (1) calculating the asset's straight-line depreciation rate, (2) doubling it, (3) subtracting residual value from cost, and (4) multiplying the rate times the cost. * O True False
14.1 Using the Straight Line (SL) depreciation method, what is the
(a) annual depreciation charge, Dt=?, (b) the total accumulated
depreciation charge, D4=? , at the end of year 4, and (c) the book
value, BV=? , at the end of year 4, for an automobile with a
Five-year useful life that has a first cost of $19,657 and an
$8,418.40 salvage value?
14.1 Using the Straight Line (SL) depreciation method, what is the (a) annual depreciation charge, DF?, (b)...
Which depreciation method results in the most depreciation in
the first year of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the same amount of
depreciation each year?
Straight-line
Activity-base
Double-declining-balance
They are all equal
Which depreciation method results in the most accumulated
depreciation by the end of the truck’s five-year useful life?
Straight-line
Activity-base
Double-declining-balance
They are all equal
What is the truck’s estimated residual value (Hint: Recall the
purchase...
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