(Depreciation Computations—SYD, DDB—Partial Periods) Bonds Company purchased a new plant asset on April 1, 2020, at a cost of $355,500. It was estimated to have a service life of 20 years and a salvage value of $30,000. Bonds’s accounting period is the calendar year. Instructions: Compute the depreciation for this asset for 2020, 2021, and 2022 using the sum-of-the-years’-digits method. Compute the depreciation for this asset for 2020, 2021, and 2022 using the double-declining balance method. Compute the depreciation for this asset for 2020, 2021, and 2022 using the straight line method.

On September 30, 2021, Bricker Enterprises purchased a machine for $200,000. The estimated service life is 10 years with a $20,000 residual value. Bricker records partial-year depreciation based on the number of months in service.Depreciation (to the nearest dollar) for 2022, using sum-of-the-years'-digits method, would be:   Multiple Choice   $31,909.   $29,455.   $35,456.   $54,000.

Swifty Company purchased a new plant asset on April 1, 2025, at a cost of $720,000. It was estimated to have a service life of 20 years and a salvage value of $56,400. Swifty accounting period is the calendar year. (a) 4 Compute the depreciation for this asset for 2025 and 2026 using the sum-of-the-years'-digits method. (Do not round intermediate calculations. Round final answers to 0 decimal places, e.g. 45,892.) Depreciation for 2025 Depreciation for 2026 IA $ $

At the beginning of 2018, Bridgeport Company acquired equipment costing $187,400. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $18,740 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year. During 2020 (the third year of the equipment's life), the company's engineers reconsidered their expectations, and estimated that the equipment's useful life would probably be 7 years (in total) instead of 6 years. The estimated salvage value was not changed at that time. However, during 2023 the estimated salvage value was reduced to $5,000. Indicate how much depreciation expense should be recorded each year for this equipment, by completing the following table. Depreciation Expense Accumulated Depreciation Year 2018 24 %24 2019 2020 2021 2022 2023 2024

Kansas enterprises purchased equipment for $78,500 on January 1, 2018. The equipment is expected to have a 10 year life, with a residual value of $8850 at the end of the 10 years. Using the straight line method depreciation expense for 2019 in the book value add December 31, 2019 would be:

On January 1, 2024, Canseco Plumbing Fixtures purchased equipment for $38,000. Residual value at the end of an estimated 7 year service life is expected to be $10,000. The company expects the equipment to operate for 12,000 hours. Required: a. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1, 2024. b. Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on March 31, 2024. Complete this question by entering your answers in the tabs below. Required A Required B Calculate depreciation expense for 2024 and 2025 using sum-of-the-years'-digits, assuming the equipment was purchased on January 1, 2024. Sum-of-the-years' digits depreciation 2024 2025 Depreciable Base x Rate per Year = Depreciation Expense x x =

Tamarisk Corp. (TC) purchased a building in early January 2020, and classified the cost of the basic structure of $128,000 in an account called Buildings. TC accounts for this class of asset using the revaluation model, revalues the class every three years, and uses straight-line depreciation. The building structure is expected to have a useful life of 25 years with no residual value. TC has a December 31 fiscal year end. The asset's fair value at December 31, 2022, is $114,540. (a1) Calculate TC's depreciation for the first three years. TC's annual depreciation $ Save for Later 2020 2021 2022 Attempts: 0 of 1 used Submit Answer

The following transactions occurred during 2020. Assume that depreciation of 10% per year is charged on all machinery and 5% per year on buildings, on a straight-line basis, with no estimated salvage value. Depreciation is charged for a full year on all fixed assets acquired during the year, and no depreciation is charged on fixed assets disposed of during the year. Jan. 30 Mar. 10 Mar. 20 May 18 June 23 Date A building that cost $182,160 in 2003 is torn down to make room for a new building. The wrecking contractor was paid $7,038 and was permitted to keep all materials salvaged. 1/30 Machinery that was purchased in 2013 for $22,080 is sold for $4,002 cash, f.o.b. purchaser's plant. Freight of $414 is paid on the sale of this machinery. A gear breaks on a machine that cost $12,420 in 2012. The gear is replaced at a cost of $2,760. The replacement does not extend the useful life of the machine but does make the machine more efficient. Prepare general journal entries for the…

A plant asset acquired on October 1, 2020, at a cost of $500,000 has an estimated useful life of 10 years. The salvage value is estimated to be $50,000 at the end of the asset's useful life. Instructions: determine the depreciation expense and accumulated depreciation for the first five years using: a. straight-line method b. double-declining-balance method

Required information [The following information applies to the questions displayed below.] On April 1, Cyclone Company purchases a trencher for $320,000. The machine is expected to last five years and have a salvage value of $60,000. Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the straight-line method. Choose Numerator: Choose Denominator: Annual Depreciation Fraction of Year Depreciation Expense Year First year Second year Annual Depreciation X = Annual depreciation