A laboratory equipment costing ₱116,000 has a projected salvage value of ₱13,000 after 6 years of use. After 3 years of operation, a terrible accident made it a total loss. If a depreciation reserve was maintained in a bank account during its 3 years of operation using the straight line method, how much is in the account at the time of the accident?

Q: A man bought a machine for $ 538,379 six years ago. It has a salvage value of $ 36,294 four years…

A: Sunk cost means the cost which is already incurred and irrelevant in making decision. Depreciation…

Q: A machine, purchased for $11,000, has a depreciable life of 5 years. It will have an expected…

A: As per the double-declining method, the depreciation rate is charged at a double rate of the…

Q: An electronic balance costs BD9,000 and has an estimated salvage value of BD800 at the end of its 10…

A: Double Declining Balance Method Rate=Straight line Method Rate×2

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A: 200% declining balance or double declining balance is a method of depreciation under which…

Q: Construct a depreciation schedule for the following problems 3.) Duncan bakery purchased a new…

A: First, we need to find the total purchase cost of the asset. Purchase price…

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A: Depreciation is used to record capital expenditure of asset over the period of useful life of asset.…

Q: Equipment with a cost of $305000 has an estimated salvage value of $21000 and an estimated life of 4…

A: DEPRECIATION EXPENSEDepreciation means gradual decrease in value of assets due to normal wear and…

Q: 2. An electronic computer was purchased by a company for $90,000 and is assumed to have a salvage…

A: Electronic Computer = $90,000 SAlvage Value = $10,000 Years = 10 Depreciation each year = [Cost -…

Q: Company B recently acquired a small equipment that costs $30,000.  The asset has a life of 10 years…

A: The depreciation reduces the value of assets with tear off and usage of assets with passage of time.

Q: What is the sunk cost if the depreciation method is a straight-line method?

A: Sunk cost costs are those costs or expenses that already been spent and cannot be recovered.…

Q: A surveillance equipment bought by FabLab Mindanao 2 years ago has been book-depreciated by the…

A: Depreciation: Depreciation is the decrease in the market value of fixed assets due to the reasons…

Q: What is the total investment cost for this machine? By what amount did the recovered depreciation…

A: Depreciation: Depreciation is the accounting method used for assets. Which allocates the cost of the…

Q: A piece of earth-moving equipment was purchased at a cash price of P25,000. The life of this…

A: To determine the annual depreciation of the earth-moving equipment, we can use the sinking fund…

Q: The fixed assets have estimated useful lives as follows: Building - 31.5 years Computer Equipment -…

A: Depreciation represents the gradual decrease in the value of these assets and is recorded as an…

Q: Montello Inc. purchases a delivery truck for $21,215. The truck has a salvage value of $4,521 and is…

A: Purchase price of truck = $21,215 Salvage value = $ 4,521 Life = 10 Years

Q: A Computer has a cost of P14,200 and no salvage value has a depreciation charge of P4,200 during its…

A: Let the useful life = n years First cost (C) = P 14200 Salvage value (S) = 0

Q: A healthcare facility purchases new equipment for $10,000,000.00. The new equipment has a scrap…

A: Depreciation expense :— It is the allocation of depreciable cost of asset over the estimated useful…

Q: What would be the book value after three years using the DDB?

A: In double declining balance method, the depreciation is calculated based on book value of assets.…

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A:

Q: Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and…

A: Under FIFO method the oldest products in inventory are sold first.Under LIFO method the newest…

Q: A metal product company has decided to purchase a new cutting equipment forP100,000. This equipme…

A: Solution Given Cost of asset 100000 Life 10 years Salvage value 5000 Method…

Q: The XYZ Block Company purchased a new office computer and other depreciable computer hardware for…

A: Present value of annuity PV = A * wherePV = present valueA = periodic paymentsr = interest raten =…

Q: A company bought a new conveyor belt for $ 182,000. If it depreciates on a straight-line basis at $…

A: The useful life of machine can be calculated with the help of straight line depreciation formula

Q: Stahmann Products paid $350,000 for a numerical controller during the last month of 2007 and had it…

A: The requirement is to find the book value under the straight-line method (SLM), Declining Balance…

Q: An equipment costing P500,000.00 has a salvage value of P56,992.00 Determine its book value after…

A: Every fixed asset loses its value over a period. Depreciation is being recorded on the cost of…

Q: Secret Bakery bought a mixer at the cost of RM12,500. It is expected to last for eight years and has…

A: Since you have specifically asked for part d so we are answering the same for you.   Depreciation is…

Q: The price of machhining equioment purchased by brass Industries was s45,400. It cost s3,440 for…

A: Introduction:- Declining Balance Method is one of the depreciation balance method.  Declining…

Q: Five years ago, an industrial engineer deposited $10,000 into an account and left it undisturbed…

A: The purchasing power of a currency is it's worth stating in terms of the number of products or…

Q: An industrial plant bought a generator set for P90,000. Other expenses including Installation…

A: Depreciation - A fixed asset's cost is distributed over its anticipated useful life using the…

Q: Depreciation charge

A: Seventh year depreciation is = 78290

Q: ABC purchased a machine on January 1, 20X0, for P18,000 cash. The machine has an estimated useful…

A: SOLUTION- BASIC INFORMATION- PURCHASE ON MACHINERY ON JAN 1 20X0 FOR P18000. SALVAGE VALUE OF P4700…

Q: A man bought a machine for $ 984,017 six years ago. It has a salvage value of $ 36,879 four years…

A: Working Note :-                                          Depreciable value of Machine…

Q: a. What is the Book Value (BV) of the asset at the end of the fourth year using the SL method? b.…

A: a) Schedule of depreciation under Straight line method: Depreciation under WDV = (75000-5000)/10 =…

Q: A construction machine was purchased at a price of $10,000 with a recovery value of $2000 after a…

A: Depreciation is the decrease in the value of assets after using it. Over the period of time, the…

Q: A personal computer that originally cost $5,000 has no est the third year, the computer was sold for…

A: In nothing given about the depreciation it is assumed that the company is gone for SLM method…

Q: 4. The annual depreciation of an air conditioning unit is $25 using straight line method. It was…

A: Annual depreciation using straight line method is Annual depreciation =(Cost -salvage value)/Service…

Q: A man bought an equipment which cost P524.000.00. Freight and installation expenses cost him…

A: Depreciation expense :— It is the allocation of depreciable cost of asset over the estimated useful…

Q: Beerus Corporation provided the following information on selected transactions during 2017: Proceeds…

A:

Q: An ECG machine bought at 250,000 pesos has a salvage value of 20, 000 pesos at the end of 8 years.…

A: Double declining method refers to the method of depreciation whereby the asset is depreciated at a…