An asset was purchased 7 years ago for $10000. It was estimated to have a 10 year service life and a salvage value of $2000 at the end of its service life. If the value of the asset is believed to be depreciating at a constant rate each year, what is its book value today if depreciation is calculated using the Declining Balance Method (DBD)
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- Using straight-line depreciation, what is the book value after 2 years for an asset costing $152700 that has a salvage value of $32600 after 10 years?A depreciable asset has a cost of P120,000, estimated useful life of 8 years, and an estimated residual value of P20,000.1. What is the depreciation rate if you are using the straight line method?2. What is the depreciation rate if you are using 150% declining balance method?3. What is the depreciation rate if you are using double declining balance method?Note: For nos. 1 to 3, the rate must be rounded off to two decimal places. Ex: 10.00%, 12.30%, 15.55%4. What is the depreciation rate if you are using the declining balance method?Note: For no. 4, the rate must be rounded off to 6 decimal places. Ex: 10.123456%5. Using SYD method, what is the depreciation expense for the 1st year?6. Using SYD method, what is the carrying amount at the end of the 6th year?7. Using double declining balance method, what is the carrying amount at the end of the 3rd year? Subparts 4-5 onlyA depreciable asset has a cost of P120,000, estimated useful life of 8 years, and an estimated residual value of P20,000.1. What is the depreciation rate if you are using the straight line method?2. What is the depreciation rate if you are using 150% declining balance method?3. What is the depreciation rate if you are using double declining balance method?Note: For nos. 1 to 3, the rate must be rounded off to two decimal places. Ex: 10.00%, 12.30%, 15.55%4. What is the depreciation rate if you are using the declining balance method?Note: For no. 4, the rate must be rounded off to 6 decimal places. Ex: 10.123456%5. Using SYD method, what is the depreciation expense for the 1st year?6. Using SYD method, what is the carrying amount at the end of the 6th year?7. Using double declining balance method, what is the carrying amount at the end of the 3rd year?
- A certain equipment has a first cost of P 12,000 and a salvage value of P 500 at the end of x years. What is the value of x if the annual depreciation is P 1,437.5 using the Straight Line Method?5.Suppose that the purchase price of a piece of equipment is $1million.its salvage value at the end of its 5 years service life is $500000.Depreciate this asset using straight line depreciation and declining balance depreciation.a. Using straight-line depreciation, what is the book value after five years for an asset costing $150,000 that has a salvage value of $35,000 after 20 years? What is the depreciation charge in the sixth year? b. Using declining-balance depreciation with d = 25 percent, what is the book value after five years for an asset costing $150,000? What is the depreciation charge in the sixth year? c. What is the depreciation rate using declining balance for an asset costing $150,000 and having a salvage value of $35,000 after 20 years? a. The book value after five years using straight-line depreciation is $. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
- 3. An asset initially costs P55,000.00 and a salvage value P5,000.00 after 11 years. What is the book value after eight years using straight-line depreciation method?What is the value of an asset after 8 years of use if it depreciates from its original value of 120,000 to its salvage value of 3% in 12 years?What is the value of an asset after 8 years of use if it depreciates from its original value of P105,000 to its salvage value of 3% in 12 years using SLM?
- a) an asset is purchased for $200,000. The estimated life is 8 years and the salvage value is $20.000.assuming the item is depreciated via straight line method, find the book of the asset at the end of 5 years? b) If one-time amount of $500 is invested at an annual interest rate of 8% (compound annually), find its future worth at the end of 20 years?Q-1) If an asset has a first cost of SR 100000 with a SR 20000 estimated salvage value after 15 years, calculate the book value for each year by using SL and DDB methods. I have already calculated depreciation value, so no need to explain again.Given a cost of a depreciable fixed asset of $24,000 with a salvage value of $2,000 and a life of 5 years, what is the annual depreciation of the fixed asset using the straight-line method? What would be the depreciation in the second year if it used the declining balance method at double the straight-line rate? In regards to question #1, if the company used the straight-line method and sold the asset after 4 years for $7,000, what would be the journal entry needed to record the transaction? What if they sold it for $5,000?