An automated assembly robot that cost $378,000 has a depreciable life of 5 years with a $80,000 salvage value. The MACRS (Modifie Accelerated Cost Recovery System) depreciation rates for years 1, 2, 3, and 6 are 20.00%, 32.00%, 19.20%, and 5.76%, respectively. What is the book value at the end of year 3? Year 5? Year 6? The book value at the end of year 5, (in $) Round to the nearest two (2) decimal places

An automated assembly robot that cost $378,000 has a depreciable life of 5 years with a $80,000 salvage value. The MACRS (Modifie Accelerated Cost Recovery System) depreciation rates for years 1, 2, 3, and 6 are 20.00%, 32.00%, 19.20%, and 5.76%, respectively. What is the book value at the end of year 3? Year 5? Year 6? The book value at the end of year 5, (in $) Round to the nearest two (2) decimal places

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE

See similar textbooks

Similar questions

An automated assembly robot that cost $352,000 has a depreciable life of 5 years with a $85,000 salvage value. The MACRS (Modified Accelerated Cost Recovery System) depreciation rates for years 1, 2, 3, and 6 are 20.00%, 32.00%, 19.20%, and 5.76%, respectively. What is the book value at the end of year 3? Year 5? Year 6? The book value at the end of year 3 is $ . The book value at the end of year 5 is $ . The book value at the end of year 6 is $ .
QUESTION 5 A manufacturing machine has a first cost of $74 thousand with a $25 thousand salvage value after 11 years. Find the book value at year 7 using Linear Depreciation.
Economics Equipment having a first cost of $158,000, a life of 10 years, and a salvage value of $23,000. What is its book value after 6 years using the MACRS depreciation method? O $111,405.80 O $46,594.20 O $62,811.50 O $95,188.50
Problem 1: The initial cost of a paint sand mill, including its installation is P 800,000. The depreciable life of this machine is 10 years with an estimated salvage value of P 50,000. Using DBM, 1. Compute the annual depreciation charge. 2. Compute the total depreciation after 6 years. 3. Compute the book value after 6 years.
Question15 Construct a depreciation schedule using the straight line method for a new lorry that costs $80,000 and has a salvage value of $8,000 at the end of 6 years.
An automated assembly robot that cost $400,000 has a depreciable life of five years with a $100,000 salvage value. If the MACRS depreciation rates for years 1, 2, and 3 are 20.00, 32.00, and 19.20%, respectively, what is the book valueof the robot at the end of year three?
Q#04: A company XYZ has purchased a new CNC Machine which has a cost basis of $5,000 and 8-year depreciable life. The estimated salvage value of the machine is zero at the end of 8 years. Use the Declining Balance method to calculate the annual depreciation amounts when R = 1.5/N (150% DB method). Tabulate the annual depreciation amount and Book Value for each year.
8 An electronics balance costs P84,000 and has an estimated salvage value of P6,000 at the end of its 14 years lifetime. What would be the depreciation after three years, using the sum of the years digit in solving for the depreciation? Express your answer in whole number.
Question: A company XYZ has purchased a new CNC Machine which has a cost basis of $5,000 and 8-year depreciable life. The estimated salvage value of the machine is zero at the end of 8 years. Use the Declining Balance method to calculate the annual depreciation amounts when R = 1.5/N (150% DB method). Tabulate the annual depreciation amount and Book Value for each year. (Solve question handwritten on white page clean and neat)
Question: A company XYZ has purchased a new CNC Machine which has a cost basis of $5,000 and 8-year depreciable life. The estimated salvage value of the machine is zero at the end of 8 years. Use the Declining Balance method to calculate the annual depreciation amounts when R = 1.5/N (150% DB method). Tabulate the annual depreciation amount and Book Value for each year. (Solve question on white page and neat)
1. An equipment costing P750,000 has a life expectancy of 6 years. Using the sum-of-year’s digit method of depreciation, what must be its salvage value such that its depreciation charge at the fifth year is P52,380.95? A. P400,000 B. P250,000 C. P300,000 D. P200,000
Question 9: A semi-truck with an estimated 250,000-mile life and a $34,000 salvage value, was purchased on January 1, 20X1, for $376,000. If the semi-truck was run for 62,000 miles in 20X1, 77,000 miles in 20X2, 56,000 miles in 20X3, and 71,000 miles in 20X4, how much would the "depreciation expense be in 20X3" using an activity-based method? Use a manual formula. Question 10: Assume the same details as Question 9, except that you want to find how much would the semi-truck's "depreciation expense be in 20X4." Use a manual formula. Hint: Read Question 9 again carefully to get to correct formula inputs.