17. On July 1, 2020, Underwood Studios purchased camera equipment for $5,000. The estimated life of the equipment was ten years and residual value was estimated to be $2,000. Double-declining-balance depreciation was used. If calculations are based on the nearest whole month, depreciation expense for the year 2022 would be a. $720 b. $900 c. $640 d. $800

rmn.3

The following transactions occurred during 2025. Assume that depreciation of 10% per year is charged on all machinery and 5% per year on buildings, on a straight-line basis, with no estimated salvage value. Depreciation is charged for a full year on all fixed assets acquired during the year, and no depreciation is charged on fixed assets disposed of during the year. Jan. 30 Mar. 10 Mar. 20 May 18 June 23 A building that cost $155,760 in 2008 is torn down to make room for a new building. The wrecking contractor was paid $6,018 and was permitted to keep all materials salvaged. Machinery that was purchased in 2018 for $18,880 is sold for $3,422 cash, fo.b. purchaser's plant. Freight of $354 is paid on the sale of this machinery. A gear breaks on a machine that cost $10,620 in 2017. The gear is replaced at a cost of $2,360. The replacement does not extend the useful life of the machine but does make the machine more efficient. A special base installed for a machine in 2019 when the machine…

On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $38,000. Residual value at the end of an estimated 7 year service life is expected to be $10,000. The company expects the equipment to operate for 12,000 hours. Required: a. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1, 2024. b. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on March 31, 2024. Complete this question by entering your answers in the tabs below. Required A Required B Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1, 2024. Sum-of-the-years' digits depreciation 2024 2025 Depreciable Base x Rate per Year = Depreciation Expense x x =

Calculate depreciation. A machine cost $165,000 on April 28, 2021. Its estimated salvage value is $5,000 and its expected life is eight years. Instructions Prepare a depreciation schedule for each year using each of the following methods, showing the figures used. These schedules should have formulas in the cells referencing the "input section" that was discussed previously. (a) Straight-line (b) Double-declining-balance (c) Sum-of-the-years'-digits

how much is the depreciation expense for 2024 using SYD depreciation method?

Spiral Company uses the sun-of-the years’ digits method to depreciate equipment purchased in January 2021 for P20,000.  The estimated residual value of the equipment is P2,000 and the estimated useful life is 4 years.  What should Spiral Company report as the asset’s carrying amount as of December 31, 2023?   a. 1,800 b. 2,000 c. 4,500 d. 3,800

Please don't give image format

On April 21, 2018, OO YAN! Manufacturing Company bought new equipment for P725, 000. The new equipment has an estimated salvage value of P75, 000 and useful life of 12 years. Depreciation is computed using the sum-of -the-year's digits method whole year convention. How much is the amount of depreciation for 2018? Use four decimal places for your depreciation rate. Round off your final answer to the whole number.

Required information [The following information applies to the questions displayed below.] On April 1, Cyclone Company purchases a trencher for $320,000. The machine is expected to last five years and have a salvage value of $60,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the straight-line method. Choose Numerator: Choose Denominator: Annual Depreciation Fraction of Year Depreciation Expense Year First year Second year Annual Depreciation X = Annual depreciation