An asset has a cost of $60.000 with a residual value of $12,000. It has a life of 5 years and was purchased on January 1. Its fourth full year of depreciation expense under double - declining - balance will be: (Round any intermediary calculations to the nearest cent and your final answer to the nearest dollar.) O A. $5,184. O B. $8,640. OC. s0. OD. $960.

FE7The net book value of furniture and fixtures at October 1, 20X1, was $20,976, Depreciation isexpensed on the diminishing balance basis at 15% per annum. Original cost of the machine was$50,000 having a salvage value of $5,000 with an estimated life of 10 years.To the nearest dollar, what is the depreciation expense per diminishing method for the year endedSeptember 30, 20X2?a) $4,500b) $5,000c) $3,146.40d) $3,054.60

An equipment was purchased for $30,000. It has a useful life of 5 years, and a residual value of $4,000. Compute the depreciation expense for the second year using the double- declining-balance method. O a. $6,000 Ob. $6,240 Oc. $7,200 Od. $5,200

Ace Company buys a machine on April 1, Year One, for $50,000 in cash. It has a residual value of $10,000 and an expected useful life of ten years. The straight-line method and the half-year convention are applied. The asset is sold on September 1, Year Three, for $39,900. What loss should be reported on this sale? a. $100 loss b. $850 loss c. $1,767 loss d. $2,100 loss

an assets book value is 19,400 on Dec 31, year 5. The asset has been depreciated at an annual rate of 4,400 on the straight-line method. assuming the asset is sold on Dec 31 year 5 for 16,400 the company should record?

A company purchased facrory equipment on August 1,2on, for R0 Boo.000 It is estimated that the EQUIDH will have a RO 50.000 residual value at the end of its 10-year useful life Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31. 2on, is Select one a RO43.750 O BRO37.500 CRO75,000 d RO31.250

On January 1, 2023, a machine was purchased for $105,000. The machine has an estimated salvage value of $6,420 and an estimated useful life of 5 years. The machine can operate for 106,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2023, 21,200 hours; 2024, 26,500 hours; 2025, 15,900 hours: 2026, 31,800 hours; and 2027, 10,600 hours. Compute the annual depreciation charges over the machine's life assuming a December 31 year-end for each of the following depreciation methods. (Round rate per hour to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 45,892.) 1. Straight-line Methodi $ 2. Activity Method Year 2023 2024 2025 $ 19,716 19,716 24,645 14,787

A plant asset cost R.O.192,000 and is estimated to have a R.O.24,000 residual value at the end of its 8-year useful life. The book value of the asset at the end of the third year using the double-declining-balance method would be Select one: a. R.O.144,000. b. R.O.108,000. O c. R.O.27,00o. O d. R.O.81,00o.

An asset with a purchase price of $501,013 falls in the 3-year MACRS asset class.  The asset will be sold at the end of a three year project for $180,745.  What is the book value of the asset at the end of the project? Round your answer to the nearest dollar. Year Depreciable Allowance 1 33% 2 45 3 15 4 7

On 1/1/23, Dugout Co buys a piece of equipment for $512,000. It is estimated that the equipment will have a salvage value of $80,000 at the end of its expected useful life of 8 years. REQUIREMENTS: 1. Prepare a depreciation schedule using the following methods: a. Straight-line (SL) b. Sum-of-the-years'-digits (SYD) c. Declining balance - 200% (DDB) 2. Assume that the original purchase was made on 5/1/23. Using the "exact" method, determine the yearly depreciation expense for the following depreciation methods: a. SL b. SYD c. DDB What would the "Half-Year" convention look like for SL? 3. Assume that in 2026, it is discovered that the original purchase (on 1/1/23) was expensed rather than capitalized. Give JE's, ignoring the tax effects, required during 2026 if the DDB method is used. 4. Assume that in 2027, the estimated salvage value is decreased by $45,000 and the expected useful life is changed to a total of 9 years from date of purchase (1/1/23). Prepare depreciation schedules for…