QUESTION 3 On January 1, 2016, a company placed into capitalized cost of $1,200,000. The equipme $30,000 and an estimated useful life of 5 ye: depreciation at December 31, 2017, if the s used? a. $468,000. O b. $480,000. O c. $240,000. O d. $234,000.
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- Working Backward: Depreciation Polk Corp. purchased new store fixtures for $55,000 on January 31, 2014. Polk depreciates assets using the straight-line method and estimated a salvage value for the machine of $5,000. On its December 31, 2016, balance sheet, Polk reported the following: Required What is the yearly amount of depreciation expense for the store fixtures? What is the estimated useful life in years for the store fixtures? Explain your answer.Identify depreciation methods used Moyle Co. acq= Tanuary 1, 2013, at a cost of $800,000. The machine js useful life, with a salvage value of $50,000. The machine is c 300,000 units of product in its lifetime. Actual production wa units in 2013; 40,000 units in 2014; 80,000 units in 2015; 50,0 expecte 70,000 units in 2017.Q.4 Swanson & Hiller, Inc., purchased a new machine on September 1, 2008 at a cost of $108,000. The machine’s estimated useful life at the time of the purchase was five years, and its residual value was $8,000. Instructions a. Prepare a complete depreciation schedule, beginning with calendar year 2008, under each of the methods listed below (assume that the half-year convention is used): 1. Straight-line. 2. 200 percent declining-balance. 3. 150 percent declining-balance, switching to straight-line when that maximizes the expense.
- Question 1 On January 1, 2014, Evers Company purchased the following machine for use in its production process: Machine: The recorded cost of this machine was $180,000. Evers estimates that the useful life of the machine is 4 years with a $10,000 salvage value remaining at the end of that time period. Instructions a) Calculate the amount of depreciation expense that Evers should record each year of its useful life under the following assumptions. Show your workings. (1) Straight-line method (2) Double declining balance method (3) Units-of-activity method and estimates that the useful life of machine is 125,000 units. Actual usage is as follows: 2014, 45,000 units; 2015, 35,000 units; 2016, 25,000 units; 2017, 20,000 units. b) Which method used to calculate depreciation reports the highest amount of depreciation expense year 1? The highest in year 4? The highest total amount over the 4-year period? inQ4 A company acquired a car at 1 Jan. 2009 for 6000000$ , the estimated useful life is 100000 km and salvage value is 10 % from cost . Required : compute the amount of depreciation for the first three years if it went 20%, 17%. 15% from the estimated useful life respectively by using units of activity method. o 10:31Q1// On 1/1/2012 Tikrit company purchased Machines that cost 500,000, the machines is expected useful life 8 years, and estimate salvage value Zero (20 Mark) .Depreciation Expenses at the end of 2014 will be 1
- Q.4 On January 2, 2011, Jansing Corporation acquired a new machine with an estimated useful life of five years. The cost of the equipment was $40,000 with a residual value of $5,000. Prepare a complete depreciation table under the two depreciation methods listed below. Straight-line. 200 percent declining-balance. 150 percent declining-balance with a switch to straight-line when it will maximize depreciation expense. Q.5 Swanson & Hiller, Inc., purchased a new machine on September 1, 2008 at a cost of $108,000. The machine’s estimated useful life at the time of the purchase was five years, and its residual value was $8,000. Instructions Prepare a complete depreciation schedule, beginning with calendar year 2008, under each of the methods listed below (assume that the half-year convention is used): Straight-line. 200 percent declining-balance. 150 percent declining-balance, switching to straight-line when that maximizes the expense.Question: LO 8.2 Calculate the following: d. The third year of depreciation on $. business furniture costing $10,000 purchased in March 2017, using the half-year convention and accelerated depreciation but no bonus depreciation. %2432 Assume that on 31st December 2014 Ali and Sons Company purchased a machine for OMR 20000 and expecting the salvage value after its useful life of 5 years is OMR 2000. Calculate the book value of the machine on 31st December 2018 by following Straight line depreciation method. a. OMR 5600 b. OMR 14000 c. OMR 9200 d. OMR 2000 Clear my choice
- Problem 1 On January 2008, Vasen Company purchased equipment at a cost of P2,500,000 to be used in its manufacturing operations. The equipment was estimated to have a useful life of eight years with residual value estimated at P500,000. Naval considered various methods of depreciation and selected the sum of the years' digits method. On December 31, 2009, the accumulated depreciation should have a balance of Note: Choose the letter of your answer and show your solution as basis of your answer. a. P500,000 less than under the straight line method b. P500,000 less than under the double declining balance method c. P333,333 greater than under the straight line method d. P333,333 greater than under the double declining balance methodQ: On January 2, 2011, Jansing Corporation acquired a new machine with an estimated useful life of five years. The cost of the equipment was $40,000 with a residual value of $5,000. Prepare a complete depreciation table under the two depreciation methods listed below. Straight-line. 200 percent declining-balance. 150 percent declining-balance with a switch to straight-line when it will maximize depreciation expense.Current Attempt in Progress X Your answer is incorrect. Metlock Company purchased equipment for $285,600 on October 1, 2025. It is estimated that the equipment will have a useful life of 8 years and a salvage value of $12,000. Estimated production is 48,000 units and estimated working hours are 19,000. During 2025, Metlock uses the equipment for 530 hours and the equipment produces 1,100 units. Compute depreciation expense under each of the following methods. Metlock is on a calendar-year basis ending December 31. (Round rate per hour and rate per unit to 2 decimal places, e.g. 5.35 and final answers to O decimal places, e.g. 45,892.) (a) (b) (c) Straight-line method for 2025 (e) Activity method (units of output) for 2025 Activity method (working hours) for 2025 (d) Sum-of-the-years'-digits method for 2027 Double-declining-balance method for 2026 $ ta tA LA 8531 5.69 7615 51187 66797