Crammer Corporation purchased a machine for $20,000 with no salvage value and a life of 4 years. What is the book value of the machine at the end of year 4?
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- 2) A company purchased a machine for $20,000 and paid transportation cost of $5,000. At the end of 7 years, the company had no further use for this machine, so it sell the machine for $12,000. The company had depreciated the machine on sum-of- years-digits method, using an estimated life of 10 years and $Y (please see the table for your value) salvage value at the end of its life. a) What is the total investment cost for this machine? b) By what amount did the recovered depreciation fail to cover the actual depreciation (at third year)?CVM Inc bought a machine for $22,000. Its estimated life is 4 years with a residual value of $1,000. Using the straight-line method, what is the book value of the machine at the end of year 2? What is the book value?Martinez Corp. bought equipment on January 1, 2022. The equipment cost $380000 and had an expected salvage value of $65000. The life of the equipment was estimated to be 5 years. The depreciable cost of the equipment is
- Skysong, Inc. purchased equipment for $7380 on January 1, 2025. The company expects to use the equipment for 3 years. It has no salvage value. Monthly depreciation expense on the asset is O $2460. O $7380. O $205. O $4.An engineer bought equipment for P500,000. HE spent an additional amount of P30,000 for installation and other expenses. The estimated useful life of the equipment is 10 years. The salvage value is x% of the first cost. Using Straight line method of depreciation the book value at the of 5 years will be P291,500. What is the value of x? 16.60 12.00 10.00 14.50Ayayai Corp. bought equipment on January 1, 2022. The equipment cost $470000 and had an expected salvage value of $70000. The life of the equipment was estimated to be 6 years. The depreciable cost of the equipment is $70000. $470000. $400000. $66667.
- An engineer bought equipment for P500,000. He spent an additional amount of P30,000 for installment and other expenses. The estimated useful life of the equipment is 10 years. The salvage value x% of the first cost. Using straight line method of depreciation, the book value at the end of 5 years will be P291,500. What is the value of x?XYZ Company purchases a new machine for $50,000 with a useful life of 5 years and no salvage value. The company uses straight-line depreciation. Calculate the annual depreciation expense for the machine.Please assist in solving the problem below. Thanks Bramble Corp. purchased a depreciable asset for $392000. The estimated salvage value is $26000, and the estimated useful life is 8 years. The double-declining balance method will be used for depreciation. What is the depreciation expense for the second year on this asset?
- Skysong Company purchased a new machine on September 1, 2022, at a cost of $125,000. The company estimated that the machine will have a salvage value of $12,000. The machine is expected t be used for 10,000 working hours during its 5-year life. Assume the double - declining balance method is used. What amount of gain or loss would Skysong recognize if they sell the asset for $ 50,000 on 12/31/24? Assume the double-declining balance method is used. What amount of gain or loss would Skysong recognize if they sell the asset for $50,000 on 12/31/24? gainHaystack company purchased a machine on January 1, 2015 for $48,000. The company estimates that the machine will have a $4,000 salvage value at the end of its 10 year useful life. On September 30, 2019 the machine was sold for a gain of $3,500. What must have been the selling price of the machine?Sunland Company bought a machine on January 1, 2022. The machine cost $168000 and had an expected salvage value of $29000. The life of the machine was estimated to be 4 years. The book value of the machine at the beginning of the third year would be $98500. $168000. $69500. $139000.