Ex. 259 Presented below are selected transactions for Werley Company for 2021. Received $9,000 scrap value on retirement of machinery that was purchased on January 1, 2011. The machine cost $90,000 on that date, and had a useful life of 10 years with no salvage value. Jan. 1 Sold equipment for $34,000 that was purchased on January 1, 2018. The equipment cost $90,000, and had a useful life of 5 years with no salvage value. April 30 Discarded a business automobile that was purchased on April 1, 2017. The car cost $27,000 and was depreciated on a 5-year useful life with a salvage value of $2,000. Dec. 31 Instructions Journalize all entries required as a result of the above transactions. Werley Company uses the straight-line method of depreciation and has recorded depreciation through December 31, 2020.

← Gulfcoast, Inc. purchased a van on January 1, 2019, for $830,000. Estimated life of the van was five years, and its estimated residual value was $94,000. Gulfcoast uses the straight-line method of depreciation. Calculate the book value of the van at the end of 2019. OA. $778,125 B. $682,800 C. $674,375 OD. $736,000

please answer correct

Equipment was purchased for $83700 on January 1, 2021. Freight charges amounted to $4000 and there was a cost of $12000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $16000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2022 if the straight-line method of depreciation is used? O $16740. $13540. $28140. $33480.

Here are selected 2022 transactions of Concord Corporation. Jan. 1   Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $61,900 and had a useful life of 10 years with no salvage value. June 30   Sold a computer that was purchased on January 1, 2020. The computer cost $35,800 and had a useful life of 4 years with no salvage value. The computer was sold for $4,300 cash. Dec. 31   Sold a delivery truck for $9,450 cash. The truck cost $23,800 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,300 salvage value. Journalize all entries required on the above dated , including to update depreciation on assets disposed of, where applicable. Use straight-line depreciation.

Zorzi Corporation purchased a Machine on January 1, 2017 for $80,000. The machinery is estimated to have a salvage value of $8,000 after a useful life of 8 years. Compute the depreciation expense for 2017 using the sume of the years didgets method assuming the machine was purchased on October 1, 2017 O $2,500 O $12.000 O S7.500 O $10,000