Equipment with a cost of $74,874, an estimated residual value of $4,863, and an estimated life of 14 years was depreciated by the straight-line method for 7 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 5 years and the residual value changed to zero. The depreciation expense for the current and future years is:

The total depreciation of an equipment after its 22 years of useful life is P621,765. Using the Straight-Line method of depreciation, determine the following: A. Total depreciation after 9 years B. First cost if the salvage value is 10% of the first cost

Equipment with a cost of $76,870, an estimated residual value of $5,844, and an estimated life of 11 years was depreciated by the straight-line method for 6 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 3 years and the residual value changed to zero. The depreciation expense for the current and future years is

An asset with a cost of £250,000 and no salvage value were originally depreciated on a straight-line basis for the first 7 years of its 25-year useful life, the book value of the asset at the end of year 7 would be £180,000 (£250,000 – £70,000). If the estimated useful life was revised at the end of year 7, and the asset was assumed to have a remaining useful life of 9 years, the following journal entry would be made for depreciation at the end of year 8: O a. Debit: Depreciation Expense 10,000 Credit: Accumulated Depreciation 10,000 O b. None of these C. Debit: Depreciation Expense 20,000 Credit: Accumulated Depreciation 20,00O Od. Debit: Accumulated Depreciation 20,000 Credit: Depreciation Expense 20,000

A new truck costing $60,000 with a residual value of $6,000 has an estimated useful life of five years. Using the declining-balance method at twice the straight-line rate, the depreciation expense in year 2 is:

Equipment with a cost of $154,032 has an estimated residual value of $9,279 and an estimated life of 4 years or 14,078 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used for 3,317 hours? a.$36,188.25 b.$34,106.10 c.$38,508.00 d.$34,149.74

! Required information Matt's Computer Service entered into the following transactions during Year 1: 1) Issued stock to investors for $63,000 cash 2) Purchased land for $45,000 cash 3) Performed services on account for $69,000 4) Collected $40,800 from customers on account 5) Paid $28,500 cash for operating expenses Required: a) Post the above transactions to the appropriate T-accounts.

Equipment costing $71000 with a salvage value of $13000 and an estimated life of 8 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 5 years and no change in the salvage value, the depreciation expense for year 3 would be?

A company used straight-line depreciation for equipment that cost $12,000, had a salvage value of $2,000, and a 5-year useful life. At the beginning of year 4 of its useful life, the estimate of the salvage value was reduced to $1,200 and its total useful life was increased to 6 years. The amount of depreciation that will be recorded during each of the remaining years of its useful life is: $2,000 $6,000 $1,600 $2,400

Equipment costing $80000 with a salvage value of $11000 and an estimated life of 8 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 5 years and no change in the salvage value, the depreciation expense for year 3 would be O $20917. O $17250. O $10350. O $14450.