Andrea Kremer purchased a computer for $8,000 on July 1, 2020. She intends to depreciate it over 4 years using the double-declining- balance method. Salvage value is $1,000. Compute depreciation for 2021.

You purchased in 2020 a new machine at $120,000 by trading it with an old machine. The old machine got sold at $40,000 and has a book value of $20,000. Your new machine belongs to Class 6, which IRS added to its MACRS depreciation schedules for personal property. Depreciation is calculated based on MACRS. a) Determine the Cost Basis. b) Calculate the depreciation amount throughout your full recovery period. c) Determine the depreciation amount in 2024 if you sell your machinery in February 2024 at $50,000.

The Vladimir Corporation purchased an equipment on January 1, 2020. The machine cost P 92,000, with an estimated salvage value of P 4,000 and an estimated useful life of 10 years. As a result of technological improvements, a revision of the machine's useful life and estimated salvage value was made. On January 1, 2021, the equipment was estimated to last through 2022, with an estimated value at the end of 2022 of P 1,000. Potter uses the straight-line depreciation method. What is the revised depreciation in year 2021? select the correct answer below a. 41,600 b. 42,100 c. 44,000 d. 8,800

The Potter Corporation purchased a machine on January 1, 2020. The machine cost P 46,000, with an estimated salvage value of P 2,000 and an estimated useful life of 10 years. As a result of technological improvements, a revision of the machine's useful life and estimated salvage value was made. On January 1, 2021, the equipment was estimated to last through 2022, with an estimated value at the end of 2022 of P 500. Potter uses the straight-line depreciation method. What is the revised depreciation in year 2021?