27. Guy bought a new car for $27,000 and kept it for 5 years. The value of the car after that time was $10,450. What was the rate of depreciation? A. 38.7% B. 61.3% C. 17.3% D. 31.7%
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27. Guy bought a new car for $27,000 and kept it for 5 years. The value of the
car after that time was $10,450. What was the rate of
A. 38.7%
B. 61.3%
C. 17.3%
D. 31.7%
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- 6. When you buy a vehicle and take it out of the dealership, it begins to depreciate. Rosa got an offer for a car for $16,069, which has a residual value of $1,981 and a useful life of 6 years. What is the percentage of depreciation of the cost of the car per year? Indicate if you think the offer is convenient for Rosa and explain your answer. A. Identify the data and establish the relationship between them. B. Resolve the relationship by presenting the procedure and answer the question in a complete sentenceLarry's car is worth $18,000 after 5 years. When the car was new, it sold for $24,000. What is the depreciation rate?28. Mr. Sanchez bought a machine costing 600000, it is believed to have a book value of P24500.65 at the end of 5 years. Using the declining balance method, determine its annual rate of depreciation in percent. a. 46 % b. 47.35 % c. 47.25% d. 45.78 % e. None of the above
- 2. Smith Hauling purchased an 18-wheel truck for $100,000. The truck depreciates at the constant rate of $10,000 per year for 10 years. a. Write an expression that gives the value y after x years. b. When is the value of the truck $55,000?11. Gingerbread Corp had been depreciating a delivery truck for 3 years when it decided to sell the truck. The historical cost of the delivery truck was $40,000 with an estimated salvage value of $5,000 and a useful life of 7 years. The company had recorded $7,000 of depreciation expense every year for three years. The company sold the truck for $21,000. What is the gain or loss recorded on the sale of the truck. a.Loss of $4,000 b.Gain of $2,000 c.Gain of $4,000 d.Loss of $2,000Bold and Grusome bought a motor van for $45 000 and estimated its scrap value at $3 000 and it's useful life as 5 years. Depreciation is charged on the straight line method. i What was the depreciation rate per year? I1. What amount of depreciation should be charged in year 3? IL What was the net book value at the end of year 4? Iv. What was accumulated depreciation at the end of year 3? V. Name ONE other method of depreciation. Add file JESTION 5 - Prepare the Appropriation Account of The Sharks Bay shermen's Cooperative Society. TDeints The Sharks Bay Fishermens Cooperative Society has a share capital $150 000 The Income and Expenditure Account for the year ending March 31 2006 shows a surplis of $36 200. Lndistributed sirplus brought fonvard from the previous year is S6 000. The management comnittee decided that the surphis should be shared m the following
- 1. Mr. A purchased a new service van. The van is depreciated over a 10-year period with a salvage value of P500,000 a. If the van will be worth P870,550 after six years using declining balance method, how much did Mr. A purchase the van? b. If the van was purchased for P1,960,000, determine the worth of the van after eight years using double declining balance method. c. If the van was purchased for determine the worth of the van after eight years using SYD method.jackies car depreciated in value by 12.5% over the past year. The value of the car is now 30,253.12 What was the value of the car last yearA personal computer that originally cost $5,000 has no estimated salvage value and was depreciated at the rate of 20% a year. At the end of the third year, the computer was sold for $1,500 cash. The transaction would result in a a. loss of $1,500. Ob. gain of $250. Oc. loss of $250. Od. gain of $1,500.
- GAINS and LOSSES Logan purchased a machine on 01/01/17. Use the following data in your calculations: COST 14.000 SALVAGE VALUE 3.000 LIFE 5 YEARS DEPRECIATION METHOD: SL What is the depreciation amount per year? What is the Accumulated Depreciation after 3 years? What is the book value of the asset at the end of year 3? The machine was sold at the end of 3 years for cash of $8,500. Did the company make a GAIN or a LOSS? What was the AMOUNT of the gain or loss? General Journal Use dropdowns for your accounts. Thank you.Weatherford purchased a machine with 5 year MACRS for 200,000. They spent an additional 25,000 Weatherford purchased a machine with 5 year MACRS for 200,000. They spent an additional 25,000 installing it. What is the accumulated depreciation on this machine at the end of three years?N purchased a truck cost $46,000. N expected to drive the truck 100,000 miles over its 5 years useful life, and the truck had an estimated salvage value of $8,000. If the truck is driven 26,000 miles in the current accounting period, what would be the amount of depreciation expense for the year? A. $11,960 B. $9,880 C. $9,200 D. $7,600