If a computer is bought by a company for $100 and is depreciated using the 3-year GDS recovery period, what is its remaining book value after 2 years of depreciation?
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- A company purchases a computer system for $20000. The following graph shows the depreciation of the computer system over the five years period. How much is the rate of depreciation per year? VA 20000 6000 0 1 2 a. $20000/year b. $6000/year C. 14% per year d. $2800/year 3 5Your staff person has provided you with the following journal entry for January 20x1 depreciation. The monthly deprecation is supposed to be $100.00. What is wrong with this entry?Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the purchase of the printer impacts not only depreciation expense each year but also the assets book value. What amount will be recorded as depreciation expense each year, and what will the book value be at the end of each year after depreciation is recorded?
- An asset has a first cost of Rs. 48,000 with an estimated life of 20 years. What is the total accumulated depreciation charge during the first 5 years of the asset life if it is depreciated according to DDB Method?If an asset is book-depreciated by the DDB method over a 5-year period, how long will it take to reach its salvage value, provided the estimated salvage is 25% of the first cost?You purchased a computer for your business at a cost of $1,200. The computer has a useful life of 4 years. Calculate the annual depreciation expense using straight-line depreciation.
- A small buisness purchases the laptop computer shown. It will be depreciated over a 4 year period, when its salvage value will be 300. Find a depreciation equation in terms of x years of use.Consider the following accounting information for a computer system: Cost basis of the asset, I = $10,000, Useful life, N = 5 years, Estimated salvage value, S = $0. Use the double-declining-depreciation method to compute the annual depreciation allowances and the resulting book values.Use the information below to answer the questions that follow. The business's year-end is December 31. Cost of equipment = 120000 Useful life in years = 10 Residual value = 0 Date purchased = February 1, 2021 Date of disposal = October 31, 2023 Cash received on disposal = 85000 What is the accumulated depreciation on the date of the disposal? What is the book value of the equipment on the date of the disposal? What is the amount of the gain or loss on the disposal?
- an electronic computer was purchased by a company for $90,000 and is assumed to have a salvage value of $10,000 after 10 years. If its value depreicated linerly from $90,000 to $10,000: Find the linear equation that relates value v in follars to t in time.A machine purchased for $315653 has a depreciable life of 7 years, and it has a terminal book (salvage) value of $29728 at the end of its depreciable life. With the straight-line method of depreciation, what is the asset's book value at the end of year 5? Round your answer to 2 decimal places. Add your answerA machine shop purchased a P45000 of equipment. What is the yearly straight line depreciation straight expense for the equipment if it has a life time of 10 yrs. and has a salvage value of P5000? a. 6000/yr b.4000/yr c.7000/yr d.5000/yr