A depreciable property costing P1,400,000 with original residual value of P80,000 after 10 years, had been revalued at a replacement cost of P1,680,000 with residual value of P20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus?
Q: A depreciable property costing P2,600,000 with original scrap value of P200,000 after 15 years, ha…
A: DEPRECIATION: It is the reduction in the value of fixed assets due to its continuous use. It is…
Q: Equipment with a cost of $304,000 has an estimated residual value of $41,600, has an estimated…
A: Depreciationn is considered a reduction in the value of asset give two uses of that asset. We can…
Q: A MACRS-depreciated asset has B = $100,000, S = $40,000, and a 10-year recovery period. (The dt…
A:
Q: A piece of equipment costs ₱355,000 including shipping, installation and taxes. The supplier assures…
A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…
Q: A building acquired at the beginning of the year at a cost of $1,630,000 has an estimate residual…
A: a) Computation of Depreciable cost is as follows:=Cost -Residual value=$1630000-$340000=$1290000
Q: Amachine whose cost is 80.000 nyals and s value as scrap is 5,000 ryals and its useful ife is 5…
A: Calculation of depreciation using the Double Declining Balance method: Year Depreciation…
Q: The equipment in a power station costs IQD 30,000,000 and has a salvage value of IQD 1,200,000 at…
A: The depreciation is said to be decrease in value of an asset with the usage and passage of time.
Q: An asset costs R10 000 and has a useful life of five years and a residual value of R1 000. Which one…
A: The depreciation expense is charged on fixed assets as reduction in value of fixed assets with the…
Q: A depreciable property costing P1,400,000 with original residual value of P80,000 after 10 years,…
A:
Q: An asset was purchased for P1,000,000.00 to be retired at the end of 15 years with a salvage value…
A: Discount rate = 8% Annual operating cost = 180,000 Salvage Value = 40,000 Purchase Price (initial…
Q: Determine the rate of depreciation, the total depreciation up to the end of the 8th year and the…
A: Depreciation is the reduction in the value of fixed assets due to more wear and tear, passage of…
Q: ABC Company has an equipment costing P 700,000 with an estimated residual value of P 70,000 and an…
A: Depreciation The purpose of calculating the depreciation cost of the assets to determine the actual…
Q: Assume the cost of a company’s long-term asset is $20,000, expected salvage value is $1,000, and…
A: The depreciation expense is charged on fixed assets as reduced value of the fixed asset with usage…
Q: Compute the depreciation for the forecast 3 years for an asset pf 10700 costs the asset life 10…
A: The depreciation expense is the reduction in the value of a fixed asset with the passage of time.
Q: An asset has a cost of $100,000. It is to be depreciated using 3-year MACRS depreciation rates. The…
A: given, cost of asset = $100,000 depreciation = 3 years MACRS life of asset = 3 years salvage value…
Q: A building acquired at the beginning of the year at a cost of $1,630,000 has an estimated residual…
A: Under the Straight line method, the Value of the Fixed Asset is allocated equally over its useful…
Q: 0,000 per year. Wh
A: Concept Under straight Line method, same amount of depreciation is charged on the Asset in each of…
Q: A commercial generator with an unadjusted basis of $50,000 is straight-line depreciated over a…
A:
Q: An asset costs $19,000. At a depreciation rate of 20 percent, calculate its book value using…
A: Depreciation is considered as an expense that is charged on the value of the Asset. It can be…
Q: A building acquired at the beginning of the year at a cost of $93,600 has an estimated residual…
A: Solution: straight line depreciation is the annual deterioration of non current assets based on the…
Q: An asset with unknown first cost value is depreciated by the straight-line method over its five year…
A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…
Q: A depreciable property costing P2,600,000 with original scrap value of P200,000 after 15 years, had…
A: Here discuss about the details of the annual depreciation expenses which are incurred after the…
Q: A plant asset cost R.O.192,000 and is estimated to have a R.O.24,000 residual value at the end of…
A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/8 years) x 2 = 25%…
Q: A building with historical cost of ₱10,000,000 and accumulated depreciation of ₱4,000,000 is…
A: Revaluation surplus means when replacement cost of the asset is more than carrying value of the…
Q: construction equipment costs 700,000 pesos and will have a salvage value of 30% of its original cost…
A: Sum of useful years = 4+3+2+1 = 10
Q: A plant asset cost R.O.192,000 and is estimated to have a R.O.24,000 residual value at the end of…
A: Double-declining-balance method: The depreciation method which assumes that the consumption of…
Q: An asset has a depreciable base of $80,000 and an estimated useful life of 4 years. In the first…
A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…
Q: Equipment with the cost of $160,000, and estimated residual value of $40,000, and an estimate life…
A: Depreciation is a charge against profit due to wear and tear of assets due to the factor of time.
Q: Equipment with a cost of $446,900 has an estimated residual value of $51,400, has an estimated…
A: depreciation = cost - residual value/ useful life. Carrying amount = cost -depreciation.
Q: 0,000 with original residual value of ₱200,000 after 15 years of useful life, had been revalued at a…
A: 1.The useful life of an asset is an estimation of the length of time the asset can reasonably be…
Q: hat should be recored as depreciation expense for Year 7? $_____________ b) What would the balance…
A: Depreciation: Depreciation is a wear and tear of the machinery or equipment, where the business will…
Q: The asset has FC of 10 000 000 and is expected to last in 10 years. Using the SOYD( with the salvage…
A: 3rd year Depreciation as per Sum of years Digits = (Asset Value - Salvage Value ) * Sum of Digits =…
Q: A set of office equipment costs $80,000 and has a useful life of 8 years. Its estimated market value…
A: Depreciation The purpose of providing the depreciation is to know the actual balance which are…
Q: d its bo
A: (1) Depreciation under Straight Line method Depreciation = (Original cost of equipment - Salvage…
Q: A depreciable property costing P2,600,000 with original scrap value of P200,000 after 15 years, had…
A: Option C: 198,000 Life per appraisal = 4 years/ 20% = 20 years Remaining life per appraisal (20-4)…
Q: A plant asset cost R.O.192,000 and is estimated to have a R.O.24,000 residual value at the end of…
A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/8 years) x 2 = 25%…
Q: the cost of an asset is $1,090,000 and its residual value is 300,000. estimated usefulife of the…
A: Formula: Depreciation rate = ( 100 / Useful life years ) x 2
Q: An asset costing $120,000 is to be depreciated over ten years to a nil residual value. Profits after…
A: The payback period is the time period in which a project will generate enough cash flow to recover…
Q: osts ₱354,000 including shipping, installation and taxes. The supplier assures a salvage value of…
A: Sum of years digit method is kind of modified accelerated method of depreciation in which more…
Q: A certain type of machine loses 10% of its value each year. The machine cost P2,000 originally.…
A: Depreciation is the reduction in the value of asset due to its normal use and tear and wear. It is…
Q: An equipment costing P250,000 has an estimated life of 15 years with a book value of P30,000 at the…
A: First Cost of Equipment= P250,000 Salvage Value= P30,000 Cost-Salvage Value= P250,000-P30,000…
Q: A depreciable property costing P1,400,000 with original residual value o P80,000 after 10 years, had…
A: Revaluation of assets means after some time of use asset value is revised and recognised in books of…
Q: Determine the rate of depreciation, the total depreciation up to end of the 8th year, and the book…
A: Methods of Depreciation 1. Declining Balance Method: Under this method, a depreciation rate is fixed…
Q: If an asset cost £27,000 with no scrap value, and the annual depreciation charge calculated using…
A: Under straight line method of depreciation, cost of asset will be charged as depreciation over the…
Q: ABC Company has an equipment costing P 700,000 with an estimated residual value of P 70,000 and an…
A: If the upgrading costs improved the current condition of asset and provide extra benefit in future…
Q: A building acquired at the beginning of the year at a cost of $1,450,000 has an estimated residual…
A: Depreciation is a non-cash expense which is recorded in the books to report the regular usage of the…
Q: A property with a depreciable cost of ₱5,600,000 with original residual value of ₱200,000 after 15…
A: Depreciation is the operating expense of the business which incurred every year on the use of the…
Q: If an asset cost €27,000 and the annual depreciation charge calculated using the straight-line…
A: Every fixed asset loses its value over a period of time. Depreciation is charged to record a…
A
Step by step
Solved in 2 steps with 2 images
- A depreciable property costing 1,400,000 with original residual value of 80,000 after 10 years, had been revalued at a replacement cost of 1,680,000 with residual value of 20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus?A depreciable property costing P1,400,000 with original residual value of P80,000 after 10 years, had been revalued at a replacement cost of P1,680,000 with residual value of P20,000. The age of the asset is four years when it was revalued. What is the revaluation surplus? Please answer it complete using good accounting form. Thank youA 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 only
- 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?at a cost of P depreciation nearest peso.) scrap or at the end of its useful life? a 12.75 million with an useful life of twenty years. What is the estimateda. 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.)
- A piece of machinery costs P50,000 and has an anticipated P8,000 salvage value at the end of its six-year depreciable life. Using straight line method, what is the annual cost of depreciation?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 1,567.6 using the Sinking Fund Method at 8%?An asset with a first cost of $7,000 is depreciated using the Modified Accelerated Cost recovery System (MACRS) over a 5-year period. The cash flow before taxes (CFBT) is estimated at $10,000 for the first 4 years and $5000 thereafter as long as the asset is retained. The effective tax rate is 40%, and the money is worth 8% per year. In present worth dollars, how much of the cash flow generated by the asset over its recovery period is lost to taxes?
- An asset costs $19,000. At a depreciation rate of 20 percent, calculate its book value using declining-balance method. a. After one year b. After two years c. After six years a. The book value after one year is $ . (Round to the nearest dollar 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?