Arabs Company purchased a machine for P650,000 on January 1, 2016. The estimated salvage value of the machine was P46,500 and Arabs estimated that the machine would have a useful life of 10 years, with depreciation being computed using straight line method. How much is the carrying value of the machine on December 31, 2019? P408,600 P455,100 P241,400 P390,000

Q: On January 1, 2017, Garden Company purchased a new machine for $4,200,000. The new machine has an…

A: Lets understand the basics. Depreciation is a reduction in value of asset due to wear and tear,…

Q: ARON Corp. acquired a machine at a total cost of P5,200,000. The estimated life of the machine is 8…

A: Depreciation per hour = (Cost of the assets - Salvage value) / Total estimated operating machine…

Q: ABC Company purchased an equipment on September 1, 2015 for $230,000. The salvage value of the…

A: Depreciation expense (sum-of-the-years' digits method ) = (Cost of the assets - Salvage…

Q: JME acquired a depreciable asset on January 1, 2014, for $60,000 cash. At that time JME estimated…

A: Calculate the depreciation expense for first two years.

Q: The KOBE Company acquired a drilling machine on October 1,2013 at a cost of $250,000 and depreciated…

A: Capital Expenditure: It is the amount invested  by a company to acquire, upgrade, and maintain…

Q: Haemul Pajeon Company purchased a machine on January 2, 2018 for P500,000. The machine has an…

A: 1. Asset Value =P500,000 Estimated useful life = 8 years Depreciation Amount for 2018  = (Asset…

Q: On June 30, 2021, Maroon sold for P230,000 a machine acquired in 2018 for P420,000. The accumulated…

A:

Q: Vaughn Manufacturing purchased a new machine on May 1, 2012 for $566400. At the time of acquisition,…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: The Fisher Company purchased a machine on October 1, 2018, for $18,000. At the time of acquisition,…

A: Depreciable cost=Cost-Salvage value=$18,000-$5,000=$13,000

Q: On January 1, 2015, Similar Corp purchased machinery for $112,200 that was expected to have a useful…

A: Prior Depreciation per annum = ($112200 - $8400) / 8 years = $12975 Revised depreciation per annum…

Q: . On January 1, 2019, Tarlac Company acquired a machine for P4,500,000. The machine has a useful…

A: Depreciation is a method of accounting that distributes the expense of a tangible or physical asset…

Q: 5) Blu Corp. purchased a machine for $2,900 with a $150 salvage value and a capacity of 2,000 hours.…

A: solution given Cost of machine $2900 Salvage value $150 Capacity 2000 hours…

Q: Freedom Co. purchased a new machine on July 2, 2019, at a total installed cost of $132,000. The…

A: Depreciation is considered as an expense charge on the value of the Asset. It can be calculated by…

Q: e was sold for P26,000. What should be the loss recognized from the sale of the machine?

A:

Q: On January​ 1, 2024, Sanderson Company acquired a machine for $1,000,000. The estimated useful life…

A: Depreciation: Decreasing value of Assets over its useful life period.

Q: On January 1, 2016, Denver Company bought a machine for $60,000. It was then estimated that the…

A: The depreciation expense can be calculated as depreciable cost divided by the useful life.

Q: Frey, Inc. purchased a machine for $600,000 on January 2, 2017. The machine has an estimated useful…

A: The asset balance at Dec 31, 2018 can be calculated as difference of original cost and the…

Q: Crane Company purchased a depreciable asset for $680000 on April 1, 2018. The estimated salvage…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

Q: Drago Company purchased equipment on January 1, 2021, at a total invoice cost of $1,200,000. The…

A: working notes: Depreciation = (1,200,000 – 30,000)/5 useful life  Total accumulated depreciation  (2…

Q: On January 1, 2016, the Key West Company acquired a pie-making machine for $50,000. The machine was…

A: Depreciation - It is the fall in the value of the fixed asset due to various reasons like accident,…

Q: Shanahan Construction purchased a crane on January 1, 2015, for $102,750. At the time of purchase,…

A: Annual depreciation = (cost of the assets- residual value) /estimated life of the assets =…

Q: Mortal Company acquired a machine for P3,200,000 on August 31, 2017. The machine has a 5-year useful…

A: Impairment of fixed assets means when fair value of the fixed assets is less than the carrying value…

Q: Rexford Company purchased a machine on January 1, 2017, for $57,600 cash. The machine has an…

A: Formula used: Depreciation rate = ( 100 / Useful life years ) x 2

Q: Swifty Corporation purchased a machine on July 1, 2020, for $910000. The machine has an estimated…

A: This is the case of 150% declining-balance method in which the depreciation rate is to be computed…

Q: The Vladimir Corporation purchased an equipment on January 1, 2020. The machine cost P 92,000, with…

A: Depreciation is used to denote a decrease in the value of fixed assets. Depreciation is the…

Q: Tammy Company purchased a boring machine on January 12018 for P8, 100 000. The useful life of the…

A: Depreciation The purpose of using the Depreciation is to calculate the actual value of the machine…

Q: PELAYO Enterprises purchased an equipment costing P50,000 on July 1, 2014. The equipment has an…

A: Depreciation means reduction in the value of assets due to its usage and efflux of time.  As per…

Q: Workman Company purchased a machine on January 2,2017, for $800,000. The machine has an estimated…

A: Accumulated depreciation: The total amount of depreciation expense deducted, from the time asset…

Q: On January 1, 2017, Alissa Company purchased a truck for $450,000, and planned to use the truck for…

A: Unit of Production Method:  This method of charging depreciation on the asset is based on the units…

Q: Dewey Corporation purchased a machine for $340,000 on January 1, 2012. The machine had an…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: On January 1, 2019, Tarlac Company acquired a machine for P4,500,000. The machine has a useful life…

A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

Q: Haemul Pajeon Company purchased a machine on January 2, 2018 for P500,000. The machine has an…

A: Double declining depreciation rate = Straight line depreciation rate x 2 = (100/8 years) x 2 = 25%

Q: Martinez Corp. bought equipment on January 1, 2022. The equipment cost $380000 and had an expected…

A: Depreciable cost of equipment is = Equipment cost - salvage value

Q: On January 1, 2020, Domino Company purchased a new machine for P4,000,000. The new machine has an…

A: Total Sum-of-the-years'-digits = 1+2+3+4+5+6+7+8 = 36 years Total sum of life remaining at the end…

Q: On April 1, 2018, Magnum Company purchased a delivery equipment for $88,000, with an expected useful…

A: The depreciation is an expense charged on fixed asset as the reduction in the value of fixed asset…

Q: January 1, 2014, Bonita Industries purchased equipment at a cost of $361000. The equipment was…

A: The depreciation expense refers to the reduction in the value of assets due to the use of that asset…

Q: Cox Inc. acquired a machine for $410,000 on January 1, Year 1. The machine has a salvage value of…

A: The depreciation expense is charged on fixed assets as reduction in the value of fixed assets with…

Q: Apple Co. purchased a machine on January 1, 2019, for P180,000 cash. The machine has an estimated…

A: following is the answer to the given question

Q: Bramble Corp. purchased a depreciable asset for $ 726000 on April 1, 2018. The estimated salvage…

A: Solution: Annual depreciation on asset = (Cost - Salvage value) / Useful life = ($726,000 - $72,000)…

Q: Mortal Company acquired a machine for P3,200,000 on August 31, 2017. The machine has a 5-year useful…

A: Annual Depreciation  = (Cost of the assets - residual value) / life of the assets =…

Q: The BAKAL Company purchased a machine on November 1, 2011, for P148,000.  At the time of…

A: Straight line method of Depreciation The purpose calculating the depreciation is to identified the…

Q: Haystack company purchased a machine on January 1, 2015 for $48,000. The company estimates that the…

A: This question deals with the calculation selling price of machine with $3,500 gain. We first need to…

Q: Vaughn Company purchased a machine on January 1, 2019, for $59000 with an estimated salvage value of…

A: Depreciation is charged on the assets indicating the decrease in the value of the asset.…

Q: Awni Company purchased a new machine on May 1, 2010 for € 44,000. At the time of acquisition, the…

A: Awni Company purchased a new machine on May 1, 2010 for € 44,000. At the time of acquisition, the…

Q: Cheyenne Corp. purchased a delivery truck for $42,000 on January 1, 2022. The truck has an expected…

A: Depreciation expense refers to the amount needs to be deducted from the gross profit of a company in…

Q: The Giovanni Company purchased a tooling machine in 2007 for $120,000. The machine was being…

A: Solution: Initial annual depreciation using SLM = $120,000 / 20 = $6,000 Carrying value of machine…

Q: Show the calculation of the amount of gain or loss to be recognized by Susan Co. from the exchange.

A: Depreciation:   Depreciation refers to the reduction in the monetary value of a fixed asset due…

Q: On January 1, 2014, Barbed Company purchased an equipment for P900,000, with an estimated useful…

A: 1. Recoverable value is higher of fair value less cost of sale and value in use       fair value -…

Q: SIMCO Company purchases a machine on 1/1/2020, at a cost of $24,000. The machine is depreciated…

A: given that,  SIMCO Company purchases a machine on 1/1/2020 at a cost of $24000 the machine is…